Divergence in Monthly Timeframe

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Double Top
RSI first top = 75 - 80%, overbought;
led to
a
pullback
then
another
secondary
rally
to a
lower
high
where RSI second top = 61%.
DYYDD
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tried to get higher and pushed back. get ready
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Pundits complained there is no divergence. It is clearly labeled. Price has risen while number of issues driving price has declined. RSI was >75% on first top, 60% on this second top. There is an arrow over declining RSI as well.

TBVH I weary of pubbing these truly useful ideas and getting heckled. I called the rally and I'm calling the correction.
Write your own idea and trade it. GLTA
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Closed half my 2k bear shares. Hedged the rest. BTFD likely for first few bearish days.
Once it starts really moving lower, BTFD won't work.
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Red futures at night, short seller's delight. Loaded weekly puts eod.
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closed out puts and most of bear shares holding 200 runners
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Closed early and bought a few calls. No long shares. Not worth trying to catch these little countermoves.

It ain't gonna get too far. Keep ur ammo dry.
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Yeah shorted the top at 4530 in 2K bear shares SPXS SQQQ SDOW TZA GLTA
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Closed it all.
evry time it does this the BTFD crowd bangs it up again the next day. watch green futes sun nite and another nutty rally.
can't keep a damned thing overnite and weekends... killer. was so despondent looking at my red bear shares underwater at noon...
'I won't let the basturds shake me out again dammit!" Added and went away for an hour. All green... and greener all afternoon.
sold half at 3:30 another half at 3:45 and the rest at 3:55 all out. It has done this 3x in past week. But price is the same!
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We had three of these dumps in a week. That's a wierd lookin ragged 5-EW. Bears probably near exhaustion.
IMO this is a primary wave 1 of a larger downtrend.
We in a minor fifth wave which might extend Monday or could just start to move back up.
Typically 2nd waves are vigorous and retrace most of the first move down. Index dumped ~133 from top 4607, so a nice 80-100 pips countertrend is likely imo.
Have to wait to see how low this wave rolls before we can project an estimate for the move up.
Loading up the putwagon here would probably be a mistake, imho. But I been wrong before.
Shorting bottoms just hurts!
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Get ready for a faceripper
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Yeah there it is. Elliot Wave 2, likely form of an ABC.
This countertrend does not have look or feel of an impulsive move.

62% retracement is most likely. Let's see.
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banked calls and closed. worrisome that an unfilled sizeable gap persists going into the close.

If it doesn't fill by EOD could see it fill Tues AM. Hold nothing.

Gapfill might form a minor B wave and serve as spring for move to the higher fibo, for a C.
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Filling that gap, forms a falling wedge, do not chase it imo!
DivergenceTechnical Indicators

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