SPX is correlating much like the DJI. Please see that chart where another Bearish Shark Formation is fighting resistance at this moment.
Both DJI and SPX showing same formation and reaching resistance points at the same time. Harmonics are powerful on their own, but when they pair up with other Indexes.... Also the US Dollar Index has been falling very consistently. Banking sectors showing a lot of weakness as well. Its a time to pay attention.
Asian markets were pretty stagnant.. they have 72 hrs to show what they may do as well.. a key resistance point being reached on the Shanghai Exchange as well. We also have a number of banks reporting 2Q Earnings this week.
With CV19 picking up in the nation this is a recipe for possible downturn.
Stay Tuned!
Both DJI and SPX showing same formation and reaching resistance points at the same time. Harmonics are powerful on their own, but when they pair up with other Indexes.... Also the US Dollar Index has been falling very consistently. Banking sectors showing a lot of weakness as well. Its a time to pay attention.
Asian markets were pretty stagnant.. they have 72 hrs to show what they may do as well.. a key resistance point being reached on the Shanghai Exchange as well. We also have a number of banks reporting 2Q Earnings this week.
With CV19 picking up in the nation this is a recipe for possible downturn.
Stay Tuned!
Moorsc0de aka Crypt0nomics aka Zaphkiel
