SPX LOSS OF MOMENTUM LONG/SHORT DECISION
-MACD suggests that momentum is decreasing.
-Minus DI over Positive DI with ADX not increasing -> suggests that the market has the potential to go down from here on, but still, not much momentum.
-Oscillators are overbought but decreasing.
:: We are likely to see SPX retest resistance. Market is overbought and longing here remains very risky. There is not much momentum and uptrend has been decreasing despite the gov. pumping billions into the market in form of reliefs.
:: Market is too optimistic. They don´t realise the amount of damage that has been dealt to the economic.
:: Unemployment rate is the highest in the history of the US.
:: At the moment the market remains unpredictable (Trump making new promises every day FED´s / Gov. pumping billions into the market) I would wait for a clear trend to take positions.
-Minus DI over Positive DI with ADX not increasing -> suggests that the market has the potential to go down from here on, but still, not much momentum.
-Oscillators are overbought but decreasing.
:: We are likely to see SPX retest resistance. Market is overbought and longing here remains very risky. There is not much momentum and uptrend has been decreasing despite the gov. pumping billions into the market in form of reliefs.
:: Market is too optimistic. They don´t realise the amount of damage that has been dealt to the economic.
:: Unemployment rate is the highest in the history of the US.
:: At the moment the market remains unpredictable (Trump making new promises every day FED´s / Gov. pumping billions into the market) I would wait for a clear trend to take positions.
Comment:
*economy :D