Divergences start their influence or will the market push on?
I've been keeping an eye on the markets since we have had these decades of volatility since the dot.com bubble, and I have never seen compression of indicators (especially the Willy!) like the DOW is showing. While I'm not ruling out we could see continued pushes higher as people have been forecasting these market tops for a year+, I am starting to see resistance in the S&P ~2000 which is showing it's head.
Trendlines supporting the indicators are breaking down, I'm keeping an eye on this as it continues to break down.
Additionally, Gold just broke a 10-year supporting trendline, and is now re-testing support which could be a signal for bear markets starting to spring up. Additional resistance from AAPL around $100 and massive volatility, significant overbought conditions from other companies like TSLA could foster a correction starting in the coming weeks and months. Keep an eye on the indicators and have your targets set folks and happy trading!
11700 is my random bottom number if this does roll over and begin a race to the bottom.
Trendlines supporting the indicators are breaking down, I'm keeping an eye on this as it continues to break down.
Additionally, Gold just broke a 10-year supporting trendline, and is now re-testing support which could be a signal for bear markets starting to spring up. Additional resistance from AAPL around $100 and massive volatility, significant overbought conditions from other companies like TSLA could foster a correction starting in the coming weeks and months. Keep an eye on the indicators and have your targets set folks and happy trading!
11700 is my random bottom number if this does roll over and begin a race to the bottom.
