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Here are two 3 Grids of SPY —— D / 60 / 30 and 60 / 15 /5

If you look at the horizontal reads of the MACD’s you’ll see that all current right edge reads of the MACD show that price is ahead of where the MACD’s say it should be…. Price is currently challenging recent highs on all real time charts – and MACD’s are angled down —–

Now if you go left to the prior linear read from the current right edge of the MACD’s – you’ll see that all but the Daily show the MACD saying price would be supported at a MUCH higher level….. The Daily is the only one showing price would be supported at a new low —-

So what is all this saying —— we know the M and W are very weak —–

It says that the short term upward moves are strong and have potential support —— HOWEVER —- that support will come in the form of continual waves of pressure from the MACDs on the lower time frames…. And will be driven by strong upward bursts of MARKET SUPPORT… So there will be support for short term long trades (off the 8 – back to the 8) —- as the bounce builds – you’ll see it’s momentum — it’s short term exuberance in those lower time charts —— driven on UP days in the MARKET….

The REALITY TEST —- is how are these upward waves able to impact the Daily chart MACDs —–

And remember —– we are extremely volatile —– up 300 / down 300 / up 200 / down…… you get the picture —–

The pressure pushing up on days like today – must have exuberance to nudge those MACDs on the higher time frames —-

Far easier like the roller coaster when the pressure subsides at the crest of the lift — to quickly drop down over the edge —– so keep your eye on those daily MACDs – watch them start to setup —- blue line first dog legs to squeeze toward and eventually touch or cross the red line —– how long will it take —– how does price accomplish this —- is the shift in the MACD caused by continual lifting of price – or does price take more time to get up out of its newer low consolidation range —–

This doesn’t mean you can’t short term trade a long position on AAPL or SPY or other —– OR — if you strongly feel this is the bottom regardless of what the M and W charts are saying — you can start to lay in small long term positions —— you know what you’ll need to see to confirm your bias —- and to protect your capital —– you’ll see the MACD on the Daily chart reflecting strength building below —-

In the mean time — the volatility continues to ebb and flow – price is impacted by news / events / fear / greed —

It’s the same story over and over —– lower time frames move first – nudging the next one above then the next one above and so on ——

Hopefully, knowing the real story – where those M / W charts are – and what it will take to impact them – what it will take from the lower time frames to impact the Daily MACDs —- will keep you aware – not confused or caught off guard – Hope this helps —

  • This reply was modified 5 years, 2 months ago by sueZmacD.
  • This reply was modified 5 years, 2 months ago by sueZmacD.
  • This reply was modified 5 years, 2 months ago by sueZmacD.
  • This reply was modified 5 years, 2 months ago by sueZmacD.