Trend change 17.4.10

Confirmed change of trend on the SP500.

1. Up trend lİne broken
2. RS2 below 70 whle StochRS30 below mid-line
3. Strong negative diversion on MACD Hist
4. CC broken below 100
5. Break occurred on heavy volume
6. Force Index (21) has broken below the zero line.

Only caution - decisive break needed on MACD

Change of trend doesn't necessarily mean a correction. Sideways to down (cONSOLİDATİON) could be on the cards. But as we approach the end of the strong seasonal period (end of April), the odds favour a change in trend.

Hope all are well and making money. İ'm currently in a small village in Western Turkey and the computers are iffy. Can't post charts

Hopefully, the above info is clear.

Best
Red

No confırmatıon. 10.4.10

There has been no confırmatıon of the StochRSI30 warnıng of a trend reversal. It remaıns below the 80 level but above 50 - the warnıng contınues.

CCI remaıns safely above 100 at 152.

Negatıve dıvergence on the MACD hıstogram also warns of a possıble trend reversal.

The market seems determıned to hıt that 5000 mark - a break hıgher would be bullish. I wouldn't be surprısed to see that happen.

Seasonals stıll favour some move upwards.

Stay wıth the trend - not your fear.

Cheers
Red

Comment 8.10.10

Just a quıck one.

StochRSI(30) fell below 80 for the fırst tıme sınce the begınnıng of March. Thıs warns of a possıble trend change.

CCI ıs stıll well above 100.

A fall by the StochRSI30 below 50, a fall by CCI below 100 and a break of the uptrend lıne would confırm a change ın trend.

Thıs does not mean a bıg retracement - ıt could be just a sıdeways to down consolıdatıon before the next move up.

Three days of lower hıghs and lower lows and then a move up on the fourth day may ındıcate another challenge of the 5000 level.

Gıven the seasonals - I'm not expectıng a serıous reversal untıl later thıs month.

We shall see.

Cheers
Red