Several nice signals today. At lunchtime (9 am Pacific time) there was a nice pullback to the 38% Fib level. Then the market tried to make a new high for an hour and a half. By the time it finally succeeded, a divergence pattern had developed in the 5/3/2 Stochastic.
A new high that can’t even hold for a single three minute bar is a pretty good indication we are going the opposite direction – right down to yesterday’s close.
