Remember my GLD 15 min negative divergence and I said I thought GLD would move to a new high and put in a second 15 min negative divergence and that would be a very strong signal for a decline, well think about the SPY in reverse...
Monday, August 1, 2011
SPY Update
Just looking at the SPY 15 min chart...
Remember my GLD 15 min negative divergence and I said I thought GLD would move to a new high and put in a second 15 min negative divergence and that would be a very strong signal for a decline, well think about the SPY in reverse...
The 15 min chart has started moving up despite the slide in price or more likely because of it (stop-losses triggered, etc). Should this move into leading position here we would have one of the strongest positive divergences I've seen in awhile.
Remember my GLD 15 min negative divergence and I said I thought GLD would move to a new high and put in a second 15 min negative divergence and that would be a very strong signal for a decline, well think about the SPY in reverse...
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