The first red close in the QQQ since Feb. 3rd and the first close < previous day's close in the IWM for the past nine sessions.
Only two of the four main indexes that registered a higher time frame sell signal and those were the DIA and SPY (the setup being a rise in the fast line while remaining under the slow line and then turning negative). The SPY nearly achieving the primary target already.
Considering prior strength this negative fast line reading is viewed as a reverse divergence (higher price highs on lower momentum lows) and as such we would be looking for the buyable dip (ideally when the hourly fast line and slow line catch back up to one another).
The setups I include on this blog are used in conjunction with the 3/10macd and the criteria I ascribe to it as a way to alert me to an existing condition of price. The key concept to take away from this blog is that I try to anticipate what will happen on the higher time frame by using a faster time frame to trigger the trade setup. I do not trade a "system" I use two indicators to clue me in to price conditions. Please read the Disclaimer located in the sidebar of this site. I can be contacted via email at firstname.lastname@example.org
I am always open to questions, comments, or suggestions on how to improve this blog.