Dow jones transport still have plenty of room to the downside. While DJI continue to hold near the highs. Expect a big drop if the major index decide to follow the transport chart.
Buy the dip? 1hr RSI oversold + Bull Div + Good earnings. Chip shorted caused by gap down but if you analyze it demand in green energy is kicking. Chip maker will not let the big buyer disappoint.
This will end very bad. Too much euphoria everywhere. If you analyze the chart bitcoin is going up on declining volume and
if you look the RSI at weekly time frame its already at the historical high. Many new traders without knowledge are jumping in to trade crypto.
Just be cautious to this kind of move.
Looks like it will break the 40k level and then corrects 20%. MACD have a bullish crossover above the zero line and RSI manage to get above from its key level.
SPX just barely closed below the orange trendline. Brace yourself if we have a confirmation candle tomorrow this might trigger more selling pressure. NDX and SPX have similarity in chart pattern, NDX already broke the trendline. Be cautious in your position and good luck.
Is this the end of the bull market and make a correction of 10-20% ? Well watch the orange trendline if it breaks below that could trigger further selling pressure.
TAYOR (trade at your own risk).
It broke out to the upside from the rising wedge. But be cautious now
- volume is declining while price is going up.
- bearish divergence.
- need Elon Musk tweet lol haha
