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hiker

TW Member
Registered:
Posts: 8,870
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


__________________

Being honest may not get you a lot of friends, but it'll always get you the right ones. - John Lennon

Tech and Industrials lead stocks in Japan to new 26-year high - January 8, 2018 pm

The move to abandon downside hedges is like driving without a seat belt, and defies the rules of diversification.
We are partying like it's 1999 in an economy that belongs to
another century, and that boom ended poorly. Just concerned. -
- Diane Swonk January 9, 2018


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fib_1618

Moderator
Registered:
Posts: 4,558
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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"As for it being different this time, it is different every time. The question is in what way, and to what extent" - Tom McClellan

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"The eye sees only what the mind is ready to comprehend" - Henri Bergson

“Answers are easy; it’s asking the right questions which is hard” - Dr. Who - 1977

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hiker

TW Member
Registered:
Posts: 8,870
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 




__________________

Being honest may not get you a lot of friends, but it'll always get you the right ones. - John Lennon

Tech and Industrials lead stocks in Japan to new 26-year high - January 8, 2018 pm

The move to abandon downside hedges is like driving without a seat belt, and defies the rules of diversification.
We are partying like it's 1999 in an economy that belongs to
another century, and that boom ended poorly. Just concerned. -
- Diane Swonk January 9, 2018


0
hiker

TW Member
Registered:
Posts: 8,870
Reply with quote  #4 
here is a Perma Link residing at  my customized Pro subscription level at SC,
so remove the s in htttps if you have a Basic or next level up subscription level -

https://stockcharts.com/h-sc/ui?s=%24SPX&p=D&yr=1&mn=2&dy=0&id=p64889385078&a=552043921

non subscribers to Stockcharts.com will see a fantasy chart

any other desired links for charts and their settings,
just ask before the February to December 2018 period

I am willing to share anything ... Your $10 donation to this TW website per chart coding request
is preferred



__________________

Being honest may not get you a lot of friends, but it'll always get you the right ones. - John Lennon

Tech and Industrials lead stocks in Japan to new 26-year high - January 8, 2018 pm

The move to abandon downside hedges is like driving without a seat belt, and defies the rules of diversification.
We are partying like it's 1999 in an economy that belongs to
another century, and that boom ended poorly. Just concerned. -
- Diane Swonk January 9, 2018


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