Second Stochastic Signal

By | April 11, 2016

The stochastic bear signal at the end of last month turned out to be a head-fake and the S&P 500 shrugged it off and continued 35 points higher. The index has come off that high and is consolidating just above the 2040 level, but has produced a series of weak looking candles and another stochastic bear signal. This one has moved to the mid range of the oscillator and is suggesting recent support will fail.

100003.SPXstochchart

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