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Join Corey for Free Live Webinar on Momentum and TICK Thursday Nov 19

Great news! If you are unable to attend the Las Vegas Traders’ Expo, the staff at MoneyShow.com will be recording my presentation (along with many other free presentations from the Expo) and you will be able to view my presentation live … for free! No travel cost, no hotel cost, and no registration costs! On…

Triple Measured Moves in SPY Show Market Character

Something interesting might be happening in the SPY chart, particularly with regard to the three most recent swing-ups in price – they have all been exactly equal in price moves (so far).

Let’s look at these three symmetrical swings – called “Measured Moves,” – and note the current level and how an exceeding of this level could hint at a shift in market “Character.”

Watch the Daily Divergences in Platinum Prices

Platinum Prices? What does that have to do with stocks? For one, the recent price pattern in Platinum resembles the recent ‘run-ups’ in stock prices.

Let’s take a quick look at the daily chart of platinum futures (index) to note the negative divergences setting in under the recent 2009 price highs and levels to watch to confirm a turn… or trend continuation and over-ruling of these pesky divergences.

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How Else Can We Interpret Recent Volume Developments as Bearish?

Looking inside the most recent short-term moves in the broader market, we see a stellar signal from reading volume alongside with price.

Using classic volume interpretation methods, we can only come to one conclusion – volume insights are sending a bearish non-confirmation signal as the market grasps at recent highs, and either volume is going to have to pick-up (increase) to keep this rally going… or else price is going to have to fall via the signals from the “Voices of Volume.”