SP 666 Episode 2?
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Re: SP Monthly chart
Looks like we are in the early stage of the B leg of the ABC correction. It is possible, judging by way things are going, the 666 level will be tested.
Your thoughts?
OK, for newbies, -ve div. is that market rises MACD falls. And +ve div. is market falls MACD rises. Now another form of divergence that we may encounter is that market falls and compared to the market the MACD falls more, in such a case market rallies up and then its boat load of long sheep gong south. Similiarly if MACD rises more than the Market then market rallies down and then heads for space.
There's also an explanation with some images here: Divergence
Here's the classic divergence lookup table:
Here's the classic divergence lookup table:
Looks like the big traders have decided to prove us (technical analysists) wrong and keep going up.
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