The S&P index after a sharp and inormal surge of 14.5% from October 30th.
RSI looks strong and stable, nonetheless, on the last 3 days it trapled and has difficult moving forward.
The MACD has getting tired since December 17th and one the last couple of days it's became flat, we can understand that the market doesn't have enough power,
the moving averages are stuck.
The MFI which tells us about the smart money that are entered by "the big sharks", also hints about the next days.
We can notice that the MFI has not been targeting a new peak for than 3 months, it just gets lower and lower.
In addition, the MFI's bottoms stay on the same level, that means the market does not have enough power to hold itself above the water.
Since the 27th of November, the money flow index show tiredness and can't break the 55 level, maybe tomrrow it will touch the level but I think it won't break it.
The chart indicates a rising triangle pattern and the pattern is really stretched and tense.
The trend lines, both, the upper and the lower are tangential to each other.
On my humble opiniom, tomorrow will be the last green day for this week.
The S&P 500 will gain less that 1% and on Thursday the market will be red and will start a sharp correction of a few hundreds points.
There is no excitment in the market anymore, just euphoria and greed.
The situation in the U.S is not getting better and even if the FDA approved Pfizer's vaccine, it is not an excuse for other sharp increases.
The clock is ticking, be careful.
RSI looks strong and stable, nonetheless, on the last 3 days it trapled and has difficult moving forward.
The MACD has getting tired since December 17th and one the last couple of days it's became flat, we can understand that the market doesn't have enough power,
the moving averages are stuck.
The MFI which tells us about the smart money that are entered by "the big sharks", also hints about the next days.
We can notice that the MFI has not been targeting a new peak for than 3 months, it just gets lower and lower.
In addition, the MFI's bottoms stay on the same level, that means the market does not have enough power to hold itself above the water.
Since the 27th of November, the money flow index show tiredness and can't break the 55 level, maybe tomrrow it will touch the level but I think it won't break it.
The chart indicates a rising triangle pattern and the pattern is really stretched and tense.
The trend lines, both, the upper and the lower are tangential to each other.
On my humble opiniom, tomorrow will be the last green day for this week.
The S&P 500 will gain less that 1% and on Thursday the market will be red and will start a sharp correction of a few hundreds points.
There is no excitment in the market anymore, just euphoria and greed.
The situation in the U.S is not getting better and even if the FDA approved Pfizer's vaccine, it is not an excuse for other sharp increases.
The clock is ticking, be careful.