SPY: Positive Divergence and Moving Average Breakout

Take note of the higher lows in OBV and RSI. These are good signs for SPY. Today’s breakout lacked volume, the divergences lead me to believe the moving average might hold.

One thought on “SPY: Positive Divergence and Moving Average Breakout

Add yours

  1. The basic idea here for trading pullbacks is that once price has exhibited an impulse move as indicated by a cross of the moving averages, to wait for price to pullback and then trigger a trade once price resumes it's move in the direction of the original impulse wave. With pullback trading as opposed to breakout trading, you're looking to buy on weakness after a recent strong move up or short on strength after a recent strong move down
    http://snorezips.com/

    Like

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Blog at WordPress.com.

Up ↑

%d bloggers like this: