The S&P500 opened up right on its 200-day EMA, where it had 70% chances of closing the lap down according to the ETF Rewind Pro “Gap Tabâ€, as follows:
Since then, price action has met that target and then some, breaking its falling five-day moving average at the mid-day on further hints of Greece resolution. (Good chance of a small pause there). Of particular note on the daily bar chart below (right hand side), see how the beat down McClellan Oscillator and near-term RSI’s have been showing a reversal in momentum even as price has remained flat. Bullish divergence?
(PS : I see some squeeze action going on — relative volume spikes left unresolved — so taking counter trades light and tight…)
