SPDR S&P 500 ETF TRUST
Short
Updated

Quickpost: SPX 3day Hidden Bearish Divergence

407
I have waited longer for this than perhaps I should admit due to closing my long way to early and not letting my winners run..

  • Price Action hit the bollinger band upper limit
  • OBV has hidden bearish divergence
  • MACD Histogram has hidden bearish divergence
  • MACD seems posed to cross the signal line bearishly.

A quick move to the lower limit of the BB seems likely, if not a break with multiple wicks extending below the BB.
Note
This is basically an update but looking at the 2 day chart instead of the 3 day. The candles look very similar with very tight real bodies and our current candlesticks show a lot of interest to the downside. The MACD also shows tightening price action with the MACD and Signal lines very tight and therefor a tight histogram. The OBV is tight to the 10 EMA and the 10 appears to be about to cross the 20 shorty and bearishly. snapshot

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