Thursday, September 15, 2016 2:00:38 PM
SPY 50dema is above this 2nd intraday bounce high today, with the 50dsma even higher
* so far, Monday's SPY daily close displaying a "bear kiss" from the underside of the 50dsma remains intact until proven otherwise ...this is one of the more reliable chart patterns for directional trading bias until the pattern is actually negated
Note - the chart below updates only after each day's close, and you can see this week is the 1st week in months the A-D breadth line for the S&P500 has downside violated its important 5% trend measured by the 39-day ema ... bulls need the A-D line permanently back above its 39-day ema
the 10% Trend and 5% Trend are what others call a 19-day and 39-day Exponential Moving Average (EMA)
* so far, Monday's SPY daily close displaying a "bear kiss" from the underside of the 50dsma remains intact until proven otherwise ...this is one of the more reliable chart patterns for directional trading bias until the pattern is actually negated
Note - the chart below updates only after each day's close, and you can see this week is the 1st week in months the A-D breadth line for the S&P500 has downside violated its important 5% trend measured by the 39-day ema ... bulls need the A-D line permanently back above its 39-day ema
the 10% Trend and 5% Trend are what others call a 19-day and 39-day Exponential Moving Average (EMA)
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