Bears still in full control - don't get fooled by that December "new high" trickery. We tagged 6945 ATH briefly, but momentum faded fast, and the close told the real story.
Daily: Price dipped to the 100D MA (purple line ~6686), bounced to retest October highs ~6922, but couldn't hold. Lost the 20D MA decisively, bears pushing for a retest of the 50D at ~6802, or even back down to the 100D support. Weak reversals screaming distribution.
Weekly: Massive unresolved bearish divergence across all 3 momentum indicators (RSI, MACD, Stoch) price hit new highs, but oscillators refused to confirm. Each week without a strong close above 6922 hands more power to bears. Looking for a flush to ~6100 to back test old resistance near the 50W MA. Bulls need consecutive higher highs/closes to kill this risk... but it's not happening.
Monthly: No full bearish engulfing, but close enough November printed a bearish hanging man closing ~6848 (above October), yet December traded to new ATH only to reject and close lower at ~6845. That makes November's candle the one to beat.
Bears remain in charge; bulls must print a convincing new ATH and close above November's body to flip the script. Fail that, and weekly weakness spills over straight shot to 6100 zone.
#CNBC talking heads and fund managers can spin all they want, but the charts are flashing major warning signs. Same setup I spotted for the
BTC top, now playing out on 
SPX Structure weakening fast. Keep an eye on this because bears are dictating pace. 
SPY
Daily: Price dipped to the 100D MA (purple line ~6686), bounced to retest October highs ~6922, but couldn't hold. Lost the 20D MA decisively, bears pushing for a retest of the 50D at ~6802, or even back down to the 100D support. Weak reversals screaming distribution.
Weekly: Massive unresolved bearish divergence across all 3 momentum indicators (RSI, MACD, Stoch) price hit new highs, but oscillators refused to confirm. Each week without a strong close above 6922 hands more power to bears. Looking for a flush to ~6100 to back test old resistance near the 50W MA. Bulls need consecutive higher highs/closes to kill this risk... but it's not happening.
Monthly: No full bearish engulfing, but close enough November printed a bearish hanging man closing ~6848 (above October), yet December traded to new ATH only to reject and close lower at ~6845. That makes November's candle the one to beat.
Bears remain in charge; bulls must print a convincing new ATH and close above November's body to flip the script. Fail that, and weekly weakness spills over straight shot to 6100 zone.
#CNBC talking heads and fund managers can spin all they want, but the charts are flashing major warning signs. Same setup I spotted for the
BTC top, now playing out on SPX Structure weakening fast. Keep an eye on this because bears are dictating pace. SPY
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Pernyataan Penyangkalan
Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.