From the previously marked timeline on 18 Feb 2025, just days later, you see the combined US Indexes plummet to cut through the middle decision box (purple), and extrude out below. This formed the double top second peak in essence, and the days following just closed at a two month low.
While this might appear Bearish, it is worth noting the lower tails in previous candles which are followed by rallies to the upper resistance. Would this happen the third time?
I would beg to differ...
In fact, marked out is a critical support point which should be tested in early March. At that point (yellow ellipse), there is a confluence of a previous trend change support, the current TDST and just below that the larger consolidation range support.
While the RoVD is slightly bullish, the MACD is dipping with MACD in bearish lower half, and the signal line tapering down towards the boundary into bear territory.
In summary, it looks slightly bearish to the critical support point. From there, it would be good to see if it bounces or it breaks down.
While this might appear Bearish, it is worth noting the lower tails in previous candles which are followed by rallies to the upper resistance. Would this happen the third time?
I would beg to differ...
In fact, marked out is a critical support point which should be tested in early March. At that point (yellow ellipse), there is a confluence of a previous trend change support, the current TDST and just below that the larger consolidation range support.
While the RoVD is slightly bullish, the MACD is dipping with MACD in bearish lower half, and the signal line tapering down towards the boundary into bear territory.
In summary, it looks slightly bearish to the critical support point. From there, it would be good to see if it bounces or it breaks down.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.