The Stochastic of 15 Dow stocks as described in a previous post titled "Reversals", indicated weakening during the entire afternoon session. The indicator turned negative at 1430 ET, which was followed by a test of the high by the ES Futures. The test turned out to be a good place to fade the market. Interestingly,this was the only indicator that I look at that indicated any possible weakening of the underlying market.
Actually, I stand corrected on that last statement. The $TICK Pivot was also showing weakness as the ES Pivot was making new highs.
Charles
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