My assessment is that the bulls can begin to form a bottom only if price progresses above the 23.6% trend level that it is currently at. To see if/when/how that begins to take shape, here's a live $SPX 20ma chart to follow along:
My assessment is that the bulls can begin to form a bottom only if price progresses above the 23.6% trend level that it is currently at. To see if/when/how that begins to take shape, here's a live $SPX 20ma chart to follow along:
Appropriately, price can currently be found just a shade below the 23.6% Fib retracement, same as the par-trend momentum.
You do such nice work. Thanks for sharing.
mss
Thanks, MSS. I've updated the annotations on that live chart to point out the nearest window of opportunity for creating a positive MACD divergence. We need to close either Tuesday or Wednesday at or above the 76.4% retracement for a "respectable-looking" positive MACD divergence to occur. There, I've saved all of the market participants from having to spend money to see what happens with a test higher! 
Now it just needs to decide if it's ready for putting in a positive divergence or not.
Now it just needs to decide if it's ready for putting in a positive divergence or not.
61.8% momo is a real bull teaser.
