Hello Once Again!
I would like to point out our historic 10 yr support which has recently been back tested and surpassed. We first broke this support on October 24, 2018. Since then we have been living under it for nearly a year. Speaking of a year, HAPPY NEW YEAR World. Which reminds me, its so funny how these markets seem to react to a new year. For instance last year just before the new year we dropped hard showing first proof of a potential market cycle change. Biased yet accurate to say, "This Year markets rose 38%" But if the drops we had from Dec 10-Dec 25 had happened after the new year .. Headlines would only be able to accurately say, Markets rose 20% .. WOW bigaz difference. So now that its a new year lets see if headlines might hit a similar tune, as the markets are primed and ready for a great story, but in the opposite nature.
RSI- is at trend line support as pinned on the RSI.
We have back tested historic support / now resistance and have gotten above it (technically) I am looking for a drop below this line for confirmation of a bull trap, which would power a nice sell off if this were to happen. We are not far from breaking it down.
We have extended our triple bearish monthly divergences and that kinetic energy has been fermenting... Gonna get tasty soon.
We have a high volume bar from a few days ago that could have marked our top, which today we are testing again and seeming to form a double top on the small time frame. ( Currently we are still grinding that area on the dow and nasdaq) Once nasdaq shows its cards, we will know which direction this market chooses.
Good Luck
I would like to point out our historic 10 yr support which has recently been back tested and surpassed. We first broke this support on October 24, 2018. Since then we have been living under it for nearly a year. Speaking of a year, HAPPY NEW YEAR World. Which reminds me, its so funny how these markets seem to react to a new year. For instance last year just before the new year we dropped hard showing first proof of a potential market cycle change. Biased yet accurate to say, "This Year markets rose 38%" But if the drops we had from Dec 10-Dec 25 had happened after the new year .. Headlines would only be able to accurately say, Markets rose 20% .. WOW bigaz difference. So now that its a new year lets see if headlines might hit a similar tune, as the markets are primed and ready for a great story, but in the opposite nature.
RSI- is at trend line support as pinned on the RSI.
We have back tested historic support / now resistance and have gotten above it (technically) I am looking for a drop below this line for confirmation of a bull trap, which would power a nice sell off if this were to happen. We are not far from breaking it down.
We have extended our triple bearish monthly divergences and that kinetic energy has been fermenting... Gonna get tasty soon.
We have a high volume bar from a few days ago that could have marked our top, which today we are testing again and seeming to form a double top on the small time frame. ( Currently we are still grinding that area on the dow and nasdaq) Once nasdaq shows its cards, we will know which direction this market chooses.
Good Luck
Comment:
Comment:
Have a look at the volume signatures to see that we have dried up as prices are rising. This has done a good job in these past two years and showing us a change in direction.
Have a look at the volume signatures to see that we have dried up as prices are rising. This has done a good job in these past two years and showing us a change in direction.
Comment: