Every prior time this indicator has hit 91%+, the market began a new descent.
JPOW's comments signaled a dovish Fed with a pivot incoming.
Will the 50DMA bear sign still hold that trend as a signal to sell?
Perhaps not, zooming out to prior instances of the stocks over the 50DMA we can see it never signaled sell-offs like in this current bear market. The last few times it's sold off has been due to the overall macro conditions (bear market), so the question to be asked is if the market's *view* of the macro conditions have changed after hearing JPOW, for the first time, say there are good signs.
Thanks for the detailed analysis of the chart, although I don't agree with the prediction, the analysis is very qualitative. Keep up the good work!
Bravetotrade
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Congratulations and well done for sharing your first idea with the community. Hope you will be having great experience. Thanks for your contribution. From mod @Bravetotrade