Divergence and defense of recent lows tell us buyers are still in the fight as sellers engage actively Here’s a link to the METASTOCK software
****WHEN OUR METASTOCK MAP FLASHES WARNING SIGNS, AS IT HAS FOR THE LAST FOUR WEEKS-
DEEP DIPS AND WIDE SPIKES IN PRICES ARE ALWAYS A STRONGER PROBABILITY.
Our Metastock Map for swing trades, TARGET RICH TRADES, is flashing warning signals for those holding swing longs and suggests taking profit where new highs are showing.
This has been the environment over the last 4 weeks. It has now also triggered a SWING short environment into supports noted on the chart below.
Until it breaks key trend lines, we expect the trading to be somewhat sideways.
SWING ALERT –
Failed retests of 2936.5 -2949 can open SWING shorts INTO SUPPORT- BECAUSE WE ARE MAKING WHAT I PERCEIVE TO BE A TOPPING EVENT, THERE WILL BE SEVERAL ENTRIES HERE WITH PROFIT TAKEN BETWEEN 2909 AND 2913,WITH STOPS NEAR 2954.5
THE FAILURE TO BREACH AND HOLD ABOVE 2917 WILL INDICATE MORE SELLERS ON THE HORIZON
Divergence and defense of recent lows tell us buyers are still in the fight as sellers engage actively Here’s a link to the METASTOCK softwareI