Obviously this mkt is very sick. Every last bullish attempt faded. Price broke below daily Kumo, and the tech bulls might face a serious trouble soon, in case Nas100 drops below 3500 key support.
But for now it seems a bit oversold on 4 Hrs time frame, so the bulls will likely try to protect 3500 and the weakest chain can show some correction today and/or tomorrow towards 3600 +/-. That is the sell zone now for both those who wanna get out and for those who wanna go short. Get ready, this will affect all markets. The structure of the long lasting US bull market is deteriorating a lot.
So far talking heads are telling it is a portfolio restructuring, re-allocation, etc. But the fact is, the previous leaders got very weak, investors try to squeeze the last juice of the bull mkt and swing from leaders to lagging stocks. Technically this is just bringing closer the end of the bull market and the major bearish reversal. No one should believe that in the long run it wiill not effect European or any other stock markets. We must start to monitor the global picture together, I mean the common behaviour of the major and broad stock indexes. Sell in May? Or sell in April? We'll see, but the warning signs all around are gathering.
But for now it seems a bit oversold on 4 Hrs time frame, so the bulls will likely try to protect 3500 and the weakest chain can show some correction today and/or tomorrow towards 3600 +/-. That is the sell zone now for both those who wanna get out and for those who wanna go short. Get ready, this will affect all markets. The structure of the long lasting US bull market is deteriorating a lot.
So far talking heads are telling it is a portfolio restructuring, re-allocation, etc. But the fact is, the previous leaders got very weak, investors try to squeeze the last juice of the bull mkt and swing from leaders to lagging stocks. Technically this is just bringing closer the end of the bull market and the major bearish reversal. No one should believe that in the long run it wiill not effect European or any other stock markets. We must start to monitor the global picture together, I mean the common behaviour of the major and broad stock indexes. Sell in May? Or sell in April? We'll see, but the warning signs all around are gathering.