EOD: The targets for 'c/3' are still valid. Breadth today was another weekly negative which keeps adding to the negative divergence. Total is now 20 weeks of NYAD weekly MACD negative red signal with only 3 of those weeks showing a small positive histogram bar. This is an unusually large print of negative breadth!
Original post:
This same signal appeared on 9/1/21 just prior to the decline '[a] thru [e]' shown. At this juncture in the market a top, when it prints, could produce a mid-size pullback or more.
lower chart: here's what was posted back in Sept. '21: note the purple line extension where wave 'v' = wave 'iii'. The market has entered this particular zone and is definitely flashing amber. A target time frame anywhere between now and 11/5/21 thru 11/9/21 needs to be watched for a decline at some degree.
Comment: once again, so many 'headlines' as reasons for market moves. If that were true, how do the technical signals often project likely directional changes before the news 'breaks'? Volatility oversold at the close because of negative news the following day does not add up logically. The cause-effect correlation is not that simply applied. Markets move exactly as they ought to propelling the 'ship' along and business responds in many different ways- not the other way around.
The bots will flag here when they see a top. (1/25/20, 2/20/20)
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