One might infer signs of upward momentum within the dramatic turbulence of late. However, this impression relies heavily on the tiny upward movement on Friday, but which actually reflected the better part of the open hours of that trading day, which countered a sizable fall during after-hour trading. To me Friday's rally seemed pretty substantial given it bounced back from two days of all fall. That suggests to me lower support was hit. Next week will be an important week, and with Trump's steel tariffs to be implemented might be another rocky week.
Note
And a quick bull run on the heels of a sizable fall doesn't necessarily mean long-term rebound, as seen here in the 2008 crash...Note
Looks like Friday's uptick was the lower support, probably holding until the next scary statements by officials, maybe Trump following through with his "easily won" trade-war plans...Note
It's held tight to the trend support I proposed. Wish we could see the 24-hour trend because it has bounced like a basketball along the lower support as if it was a real thing, and in some sense it seems that it is. So fascinating! Note
The DOW has tightly followed the positive bullish trend I suggested, albeit in a choppy chaotic fashion...
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.