The 10 Day Hi-Lo has created a triangle pattern.
When the SPY makes a higher high while the 10 day Hi-Lo starts to drop, be on watch. In the past divergences appear at most turns in the market. At the very least, the 10 day Hi-Lo develops lower highs and lower lows at or near tops and higher highs and higher lows at or near bottoms.
But here we have a triangle pattern and right now there is no indication if it will break out of this pattern up or down.
Buying Pressure has been rising and is in or close to an area where highs have been made.
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This has been posted for Educational Purposes Only. Do your own work and consult with Professionals before making any investment decisions.
Past performance is not indicative of future results
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