The 5%ers' Blog
On the 15 minutes chart of SPX500, we can see very clearly the divergence between MACD and the price records, the divergence on MACD indicator is not a signal for me to sell, it just tells me that the uptrend we can see on the 15 minutes chart is powerless, there are 2 options I’m waiting for to sell.
1 – if the price will breakout the support below I’ll look for price action setup to sell,
2 – Sell at 2870.00 on the first touch, it’s a great supply that we can see on the daily chart.
In both cases, the demand below will be the first target and the final target is 2400.00 zones.
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