Corey Rosenbloom: One of my favorite set-ups takes into account a visual intraday divergence into a known higher timeframe key support or inflection level.
That’s what happened this morning – as I highlighted in yesterday’s planning post – and it has resulted in a stellar rally and great real-world educational example.
Let’s step inside the market this morning to note the ongoing Positive Internal Divergences at a key level and the ’snap-back’ rally that developed.
First, take a moment to refresh the commentary from yesterday afternoon’s “Planning the Next Move off the Key S&P 500 Level of 1,650” which set the stage for today’s rally outcome.
I mentioned it would be important to note any divergences or ’strength’ in Internals relative to the 1,650 level and that’s precisely what occurred, both with the higher indicator lows relative to the August 15 ‘collapse’ day and the strong bullish open this morning on the retest of yesterday’s index low.(...)Click here to continue reading the original ETFDailyNews.com article: S&P 500: Charting Market Internals Divergences Off Key SupportYou are viewing an abbreviated republication of ETF Daily News content. You can find full ETF Daily News articles on (www.etfdailynews.com)
- S&P 500: A Quick Check On Market Internals
- S&P 500 Index: Market Internals and Price Pathways At The Highs
- S&P 500 and Dow Jones Industrial Average Market Internals and Fibonacci Check
- S&P 500 Index: A Check On The Market Internals On The Breakout
- S&P 500 and Dow Jones Industrial Average: Pay Attention To Today’s Market Internals
Nasdaq quotes delayed at least 15 minutes, all others at least 20 minutes.
Markets are closed on certain holidays. Stock Market Holiday List
By accessing this page, you agree to the following
Press Release Service provided by PRConnect.
Stock quotes supplied by Telekurs USA
Postage Rates Bots go here