What Is Wrong This Chart? (SPX)
IF you guessed the S&Ps are pushing up through their upper bollinger band you are correct. Notice the prior up trend where the SPX rode upper bollinger band from the lows of February of 2010, to May highs… What happened after we pushed outside of the upper band, we stumbled a bit then flash crashed out of the lower band…. The current lower band if you see if starting to curve open to the downside as the price of the SPX is simultaneously piercing the upper band..
The last push of the day off 1218 to 1223 was another horse shit move. 700 million buy imbalance on a Friday?