I believe that the dashed blue/purple months are the large frame trend tops.
I plan on closing my longs in this area and then looking at establishing a short position. This should align with the RSI divergence on my chart as well.
Good luck!
Looking at the larger frames here, blue is the larger 6 month, purple is the 3 month.
Possibly blow off before the downside I wanted to see.
We are stuck in the middle, see my previous posts for my bearish pullback.
Looking at XLF, we have had a good pump. Over the last few days the RSI has been burnt up and we are starting to see some bearish divergence as well as the price flattening. I would like to try to play this down to the green supply zone below, best of luck. It may keep ripping to the upper trend line shown.
Just a fun idea that popped up in my head, SPY is in a battle currently and we may see her start tightening up. This is nothing serious, see my last post for something more serious.
SPY has reached my target level (see prior post.)
SPY appeared to have broken down from its ascending wedge, and made a lower low in price and in strength. The price is now backtesting support levels.
Next price target is bearish and I’m looking for the green support level below.
Just looking at ideas and I thought I would share my chart.
My lines are built off of past divergences, hidden and normal.
The downward/falling wedge is the weekly, the flag is the monthly.
Thinking decent size extension under the monthly line "bear trap" then some relief.
