The market is putting in some reversal notifications within a band of fibonacci resistance areas, which is not bullish. Looking to exit the other half of my long position.
We'll start with the SP-500 w/ ATR. It has approached a trendline that has marked previous tops and is looking to reverse.
The next chart shows the ratio of SP-500 and TLT: It is outside it's upper BB and a close back inside gives a sell signal. This signal has produced small moves, but it has also marked tops.
The RUT gave and ADX sell signal and the DI's crossed above and below their associated trend lines.
To be fair, the above chart (RUT) doesn't always mark the top and a higher high could be made. In my experience that higher high is only 15-30 points above the rollover mark, so your max drawdown would be 30 pts.
All of this is going on within my golden Weekly S/R chart:
We must consider this as a large reversal point.
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