Good Morning!
We turned neutral, from Bullish Sept 2022, late July - early August.
Since then #stocks have traded slowly lower.
For the moment all major indices trade ABOVE longer term moving avgs. This tends to be a good sign. However, they're all trading sub short term moving avgs.
Furthermore:
Indicators like RSI & Money Flow have eroded recently
They've also formed ominous patterns, as follows:
DJI formed Rising Wedge.
NDX $ 
SPX Head & Shoulders.
Most likely these patterns will resolve soon. Either confirm or break.
Have an awesome trading week!
We turned neutral, from Bullish Sept 2022, late July - early August.
Since then #stocks have traded slowly lower.
For the moment all major indices trade ABOVE longer term moving avgs. This tends to be a good sign. However, they're all trading sub short term moving avgs.
Furthermore:
Indicators like RSI & Money Flow have eroded recently
They've also formed ominous patterns, as follows:
DJI formed Rising Wedge.NDX $ SPX Head & Shoulders.Most likely these patterns will resolve soon. Either confirm or break.
Have an awesome trading week!
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.