Because of the rapid, moonshot, steep advance in the ES, SPX, and QQQQ lately, I decided to do some parabolic analysis, which is very useful in strong moves like this. Supplemented of course by the RSI MACD STOCH trendlines Support, R, etc. But below I show the Parabolic SAR.
ES right now (Sunday 11:53 PM) has a SELL signal in the 60 minute. This is overnight trading though, and a 60minute not daily signal, so it is weaker, but significant nonetheless.
If we see these signals on the SPX SPY during the daytime 930--400pm, then they are stronger.
SPX
A move /candle close under 1146.50 would give a sell signal in the 60 minute chart.
SPX daily: a move under 1135 is needed to give a parabolic SELL signal
* 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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