August 8, 2012

SPY Negative divergence

  • SPY Hour chart with negative divergence.
  • Last two divergences has given a correction and correction for the current divergence is yet to happen. Price falling below 20 Hour SMA and 139.80 may give a correction in favor of bears.
  • PCLN BEAR FLAG AND TARGET


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2 comments:

  1. TekkiesureshAugust 8, 2012 at 11:10 PM

    Good post. But the negative dips have become shallower. Does it have any significance?

    ReplyDelete
  2. SanAugust 8, 2012 at 11:27 PM

    @Tekkie Suresh
    Thanks,
    Expecting only an intraday dip not a big correction.

    ReplyDelete

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