"Bollinger_Band_Analysis Suggests Caution" by MP Trader 10/12
by Mike Paulenoff (MP Trader)
My Bollinger Band work is warning me that the E-Mini S&P 500 is in route to a test of the lower band line at 1408.
Notice that since Tuesday’s decline and low-close, every rally and every rally attempt has failed to claw back above the down-sloped 20 DMA, now at 1437.75.
This is a signal of serious impending weakness once the price structure begins to accelerate to the downside, after multiple failed attempts to climb above the 20 DMA.
This is exactly the juxtaposition of the e-SPZ and the MA now.
Mike Paulenoff is author of http://www.MPTrader.com
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