wow once again these charts are confounding, showing both bullish and bearish signals. they seem to indicate a bounce followed by another decline, BUT there are also indications that the bounce could get followthrough all the way up to spx 1117 in the coming days. so myself, i'll take this as it comes. Today was either the start of a move down to 1085 and maybe lower, or it could be viewed as a test of an spx uptrend support line that held (suggesting up to 1117 or higher). in addition to other factors, the daily Moneyflow, daily adx/r, and 60min adx/r are interesting. perhaps will add more details and do more analysis later.
Nevertheless, the bear control the 60 minute charts, until the bulls force it by pushing it up (if they do). So, my bias is bearish for short term, for now.
a harami candle
pattern (among other indicators)
would just be more confusion that
needs to be settled next week lol
But we also must look at
12/8 and 12/9 candles daily...we could
get that...a hammer or harami
also 11/19 and
11/20....11/27 n 11/28 candles in spy. these candles show "failed" trend reversal attempts.
spx "should" reverse down but its too early to tell.
* ChristopherStockGuy is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. For details, see the post from SATURDAY, AUGUST 15, 2009 titled "Disclaimer".
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