DISQUS

Afraid to Trade Blog: Nov 2 Intraday TICK and Momentum Divergences Precede Reversal

  • terlyn · 1 month ago
    Tricky day today. Although the market was turning down, the volume has been low and sporadic on the inverse ETFs as of 2:25pm.
  • Corey Rosenbloom, CMT · 1 month ago
    Very true!

    I would have suspected we would have endured further upside thanks to the way CNBC was describing how wonderful the Manufacturing report data were.

    Another example of how we should trust technicals (charts) over hype.
  • Corey Rosenbloom, CMT · 1 month ago
    As a reference and update, the intraday lows - so far - were preceded with positive TICK and Momentum divergences at the 1:10 CST Lows.
  • terlyn · 1 month ago
    On a 3-month daily chart, SPY is forming a doji. Sure feels like it. Not a good day to trade. I wonder if it will go up tomorrow and eventually form another "bump," this one being the last on the overall rounded reversal or wedge.
  • terlyn · 1 month ago
    Elliott Wave on FAZ worked out, I think.