Would not be buying DJI contracts here. Expecting after hours selling and pre-market selling before open on Monday.
Successful retest of 24000 looks essential for the bulls.
Last several times the MOM has been divergent large drops followed. No reason to expect this time to be different. Would be in cash and waiting (if I wasn't already) on higher lows, retest of the low, or a confirmed breakout. Longs here are equal to a bet on roulette red at best.
That is the 100 MA above price and 50 below.
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Last few bearish Divs on the MOM marked on PA. But maybe different this time....
Could you explain the bearish diversion on MOM? I’m not seeing it. Looks normal to me unless it should viewed as an inversion. Thanks and great work! I have the same conclusion with different TA.
So I thought, but futures lifted aftermarket; maybe Red is a lucky color after all. Agree likely real close to significant pullback, perhaps retest of lows. Thanks for the post!