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The latest from the
OptionHunter session 11/9/2009 SPY - the monthly price is ahead of itself, but the MACD fast line is moving straight up. In order for the price to come down would need to have the weekly chart with a double top or downside divergence and it doesn't have that. The weekly is in a weakened state, but even though it still has extraordinary upside strength. The hourly price was at a new low, but the indicator was at a higher low, this is a reversal pattern. SDS - there was a new top in price and downside divergence on the 2nd, this was a indication that the major markets could reverse. GILD - was in one of the weaker groups, but the hourly had a double bottom with an upside divergence on the 2nd. GLD - had a valid upside divergence on the hourly that started on the 30th, now has a Double Top with a downside divergence.
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