One serious warning sign was that the major components of the S&P 500 were trending down as the index was trying to make higher highs.
On the 1-minute chart, the bar colors reflect the trend of the $TICK index - red when trending down, and green when trending up. Just before 1100 ET as the Europeans were getting ready for their half-hour of trading, the $TICK turned bearish and the ES futures broke through support.
Charles
No comments:
Post a Comment