I know there are a lot of fear out there now for a possible bear market this year. We had a severe plunge in the US markets that started on 5th Jan till it hit a near term bottom on 24th Jan, chopped around the low for a few days before making a strong rebound that lasted almost a week.
Since then the markets has started to loose some grounds again. However it looks like a bull flag is forming right now and there is a chance the market could continue to rebound further in the coming days.
Whether we are still in topping process remains to be seen, it could still be 3-6 months of flip flopping and huge volatility before the picture becomes clearer. However, with the 50day moving average still above the 200 day moving average for all 3 indices (ie we don't have a "death cross" yet), I will not be overly bearish just yet and may also look for short term long (or short) opportunities. I would prefer to stay nimble and shorter term for now.
Stay safe.
Disclaimer: TA is about improving our odds of a successful trade (not a guarantee). This is just my own analysis and opinion for discussion and is NOT a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Thank you.
Since then the markets has started to loose some grounds again. However it looks like a bull flag is forming right now and there is a chance the market could continue to rebound further in the coming days.
Whether we are still in topping process remains to be seen, it could still be 3-6 months of flip flopping and huge volatility before the picture becomes clearer. However, with the 50day moving average still above the 200 day moving average for all 3 indices (ie we don't have a "death cross" yet), I will not be overly bearish just yet and may also look for short term long (or short) opportunities. I would prefer to stay nimble and shorter term for now.
Stay safe.
Disclaimer: TA is about improving our odds of a successful trade (not a guarantee). This is just my own analysis and opinion for discussion and is NOT a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Thank you.