There is bearish divergence on both the RSI and MACD when compared to increasing price.
Also the UO is fairly low for this push towards the all time high.
If you look at the monthly SPX you will see a MACD cross over to the down side.
On top of that the RSI and UO are overbought and have been for a while. These are the same levels they reached in both 2001...
The downward momentum of the MACD is shrinking.
There is some bullish confirmation on RSI / UO / MACD Histogram.
Target is 24.66 for 2 reasons: a previous gap, and the 7.78 price difference between top an bottom of triangle where the top trend-line starts.
This could mean instability in the SPX which is making a new move through resistance.
A good inverse parabola can be seen on the daily price chart for ACC. There is also a cross of an important resistance line indicating the trend is changing. The MACD line seems to be continuing its upward trend at least for a while. Lastly we can see the Ultimate Oscillator tested the 50 line and did not cross, as well as the symmetrical triangle it is...
Nice symmetrical triangle pattern on the daily price chart. The MACD line has crossed above the trigger line and the Ultimate Oscillator has broken a down trend & crossed the 50 line. Watch for a breakout to the upside on strong volume.
As you can see on the daily there is a good symmetrical triangle formation. The MACD indicates that there maybe a possible reversal to the positive side. Another thing we can look at is the Ultimate oscillators test of the 50line and a surge above it. It could be indicating an upside breakout as long as the 70 line isn't reached too quickly and AYI is seen as...
I am just starting out getting into this whole technical analysis thing. I am publishing this to get any feedback to see if anyone has any comments to make about my chart and what I saw with the indicators.
As for the chart I see a possible opportunity to trade a bounce in Big Lots, however there are no distinct signs of reversal. I see divergence in the MACD...
