We published this SPX hourly chart in our premium service last weekend. The setup was obvious though the “obviousness” of it gave us reason to be suspect in this rail-thin and wicked market.
But once I got around to not over thinking, my mind was at ease in anticipating this rally that will take us to the 1120-1140 area…
1. its not positive “divergence”. in order to have “divergence”, the trends need to be divergent. what you have is convergence. there is no operable predictive (lol) benefit from convergence.
2. that’s the weakest head and shoulders pattern i’ve ever seen.
3. keep up the good work.