This is my second post. In the first one I was confident we are in a topping process. Admitted I was a bit early but I would say half right, just early.
Now the evidence is even more clear.
As you see we have divergences in the weekly – that´s heavy sh**!
My buest guess is:
I think it´s more likely we come tomorrow into the 154 SPY area and then bounce from there. After that we either bounce in this sideways chanel or make a new high, then bounce and fail and drop or make another high and drop from there. we had something like this in 2012 until we broke in May support and headed lower. So this chopfest could go some while DO NOT OVERTRADE HERE when u don´t know how to do it properly.
Cheers
p.s. I always edit my post 100 times – I don´t know why too stupid I guess so here is an important chart I wanted to add:
The first chart shows stocks above their 40 day moving average, the second is the McCLellan Summation Index. In short when most of the stocks don´t move higher with the market that normally ends bad for the main indexes.
