Like I said on the last post the bulls don’t have any room, we’ve been at the 2970 level the last three days to this point we have bearish divergences on every single chart from daily down to 15 minute. We are also overbought on every single chart from 4 hr to 15 min. Even if we do breakout it’s a low probability breakout. The best thing for the bulls would be to pullback to the neckline and then we would have enough room to actually breakout. Now it’s going to be harder for the bulls hold the neckline. We’re gonna have to comeback to test that neckline again and we basically did nothing today. The bulls do have one more check mark in regards to closing higher but now they have bearish divergences which increases the probability of a top. Starting to get a sell signal on 4 hour charts we got a head shoulders yesterday on short term charts that played out to measured target and then bulls bought it right back up this morning.
Hope everyone has a great day
Hope everyone has a great day
