No we aren't channelling John Edward (TV psychic) but a set-up I wrote about the other day.
Here is the last 30 days of the Q's - there are several crossovers on here including one that failed and a failed BOB too.
You can see from 1/22 - 1/24 the Q's were setting up a blow-off bottom but it failed. Along with that there was a failed crossover on 1/24. As I've said before this is a high probability but not 100% perfect indicator (are there any?).
While I haven't done a lot of analysis with the EMA 8 in this particular set-up I do notice that the crossover on 1/24 has the EMA 8 in a peculiar position relative to the 4 and 21. You would almost always expect it to be between them but because of the chop chop nature of the markets during the past couple of weeks that EMA was out of what might be considered its more normal position. It is something I'm going to be investigating - time permitting.
But observe that there are 5 crossovers on the chart. Three have been successful, one failed and one??? That one, of course, is from Friday. And unfortunately the EMA 8 is in a normal location relative to the 4 and the 21.
So although I called for an up day on Monday - it is possible that tech might lag.