Thursday, June 3, 2010

This morning's $SPX charts (so far)

Basically, these charts seem to be saying that we are now at another 'top'....This contradicts the daily MACD indicator and the put/call ratios, which looks so much like a warning of the beginning of a new up trend. The day is still young, but as of 10:50 CST, today's candlestick DOES look like a top,,,

The top chart shows a conventional trendline that will probably _not_ work...The bottom two charts show trendlines that _should_ work....

(Click on the individual charts to enlarge them)

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