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This blog is for educational purposes only

Thursday, July 11, 2013

Watch this as SPY Makes New All Time Highs

Watch this setup as SPY makes new all time highs for signs of impending correction

SP500 correcting from all time high, Breadth not favorable. NYSI < 500, means last all time high is at risk.
(Chart updated after the close of January 07,  2022)
 I plan to manage my longs using my short term trading setup. You can mange yours by using a trend line. The green trend line is more important than you may think. Remain long as long as price is above the green trend line, quite when it breaks.


*Why NYSI must rise to 500? See here:
http://www.mcoscillator.com/learning_center/weekly_chart/summation_indexs_magic_tricks/
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6 comments:

  1. klhJuly 11, 2013 at 9:32 PM

    is the only fishy aspect you sense the breadth - or is it something else too?

    tia
    klh

    ReplyDelete
  2. HarapaJuly 11, 2013 at 9:44 PM

    At the moment this is the only thing showing a gross divergence. Actually, "NYSI not making above 500 when market makes a new high" is a Bearish sign is from Tom McClellan
    http://www.mcoscillator.com/learning_center/weekly_chart/rasi_above_500_says_bull_market_not_done/

    ReplyDelete
  3. AnonymousJuly 12, 2013 at 9:00 AM

    The first chart does not enlarge when clicked.

    ReplyDelete
    Replies
    1. HarapaJuly 12, 2013 at 9:12 AM

      It is fixed now. Thanks for letting me know.

      Delete
  4. UNBREAKABLEJuly 12, 2013 at 9:00 AM

    When will you be updating the volatility derived?

    ReplyDelete

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