Diary of a Financier

SPX Weekend Update: The Brave Bought This Dip

In Capital Markets on Fri 3 Aug 2012 at 16:59

S&P 500 (ES/) Futures charts:

ES daily/weekly/monthly- I’m no longer following the 2011 analogue; now the daily fractal is trading in a bull channel, which could use an MFI breakout to back this good momentum with buyers & their volume; weekly chart worries me, so hopefully ES can break its slowly developing bear divergence, which would help the monthly flash some bullish signals for a change.

Week-end closing prices (4:00 est):

SPX= 1390.99
ES/=1380

–Romeo

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  1. […] MFI starting to breakout.  This was the last piece that didn’t fit: MFI bear divergence had worried me for the past few weeks, but the buyers have stepped-up, backing this rally with their volume: SPY […]

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