This looks rather interesting. Current level is important and if we break below it, we may see a significant drop fairly quickly.
Those Petroleum bankruptcies everyone expected might not even happen. Demand is down, exports are down, oil price is likely to continue upwards, it's summer time with a lot of empty office buildings.
I wouldn't be surprised to see...
Small bear flag on DIA, if it goes through it aims towards $222 - in line with many macro charts that indicate something will go down next week. Wonder what, it's now like we are in a global pandemic, unprecedented lockdown, massive unemployment and insolvency, aren't we?
There are a lot of weak charts out there, this is one of them. As S&P and other went all the way up to high levels JPM and some others struggled a lot. Now that we see an oncoming weakness in the broad market, charts like these will fall like rocks as other more stronger ones brace for a correction.