ambitiousjev

ambitiousjev

This market is in a current dominant downtrend. Price action dictates an exhaustion in the short-lived uptrend correction and a continuation of the downtrend. The daily trendline aligns with the current price and the short trendline drawn using the 4hr and 1hr timeframe signifies a possible entry for a lengthy downtrend continuation for the week.

ambitiousjev

The S&P500 has been on uptrend. From simple analysis, I reckon that the market will continue going up as the correction at $4150 after the FED reports has been exhausted and the price is now well aligned with my trendline. Price action on the 1hr and 4hr time frames also validates a possible entry into the market. J. Mitch