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hiker

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Posts: 8,872
Reply with quote  #1 
best of joy and well being to all here.

an interesting setup going into year-end for the PMO summary configurations
for the 500 components in the S&P 500 index:

compared to the higher highs SPX price action, the daily chart below displays significant
lower highs negative divergence for all of December 2017
by two of the three selected PMO summary internals shown on the chart

such negative divergence often matters, and the technician must divine whether the probable
price outcome will be Up or Down as a result of the divergence ....
You be the judge what this negative divergence by the PMO internals predicts for the January/February 2018
price action

SPX daily chart with PMO and PMO internals for the entire index - December 28, 2017 Thursday's close:

SPX daily with PMO and internals - December 28, 2017 Thursday.png


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fib_1618

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Posts: 4,679
Reply with quote  #2 
Thanks for the contribution Steve!

The best to you and your family as well in the New Year!!

Fib

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hiker

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Posts: 8,872
Reply with quote  #3 
SPX daily with PMO and PMO summary internals - December 29, 2017 Friday

* setup is worsening in the near-term period through Friday

these chart elements
need to reverse to the upside for the ongoing bullish future ...
and the sooner the better

SPX daily with PMO and PMO summary internals - December 29, 2017 Frida.png 




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