Last week we closed completely bearish and with a lot of volume compared to previous weeks (only surpassed by the week of January 24, 2022), this may indicate some interesting things...
1.- We are in the area of the weekly MA 200, which indicates that it is a strong support, the last time this level was visited we had a strong rebound.
2.- In such an extended downward movement, it could be the indicator that the massive shorts have ended and that from this level we will see the value of Nq accumulate. Some stocks like META are already at pandemic levels... This may tell us that some rebounds, consolidation/accumulation, and then markets may start to rebound.
We must be vigilant and have a clear strategy to be able to ride the wave and take advantage of the great movement that can occur...
If the upward movement is not confirmed, we could see a drop below 11,000 points.
1.- We are in the area of the weekly MA 200, which indicates that it is a strong support, the last time this level was visited we had a strong rebound.
2.- In such an extended downward movement, it could be the indicator that the massive shorts have ended and that from this level we will see the value of Nq accumulate. Some stocks like META are already at pandemic levels... This may tell us that some rebounds, consolidation/accumulation, and then markets may start to rebound.
We must be vigilant and have a clear strategy to be able to ride the wave and take advantage of the great movement that can occur...
If the upward movement is not confirmed, we could see a drop below 11,000 points.