Looks like the market is poised for a rebound after shedding over 20% since October.
Above 6100 we look bullish for a rebound consolidation period. Below 5992 this idea become invalidated as dip buyers will get taken out the back and shot.
Watch for the market to reverse around the 7000 level as market participants make decisions to unwind their long positions and/or open large short positions to solidify a downtrend on the bigger timeframes.
***This is not investment advice and is simply an educational analysis of the market and/or pair. By reading this post you acknowledge that you will use the information here at YOUR OWN RISK
Above 6100 we look bullish for a rebound consolidation period. Below 5992 this idea become invalidated as dip buyers will get taken out the back and shot.
Watch for the market to reverse around the 7000 level as market participants make decisions to unwind their long positions and/or open large short positions to solidify a downtrend on the bigger timeframes.
***This is not investment advice and is simply an educational analysis of the market and/or pair. By reading this post you acknowledge that you will use the information here at YOUR OWN RISK
Note
Some heavy losers over the last 24hrs in the index but we are showing some technical strength keeping our idea alive with most equities holding above their key support levels, for example, $nvda.Note
Note
Make it or break it level here...Note
Note
Be cautious up here as we trade within the EMAs. The dollar has weakened pretty sharply during this financial market rally. We are reaching some key technical levels. Clearly there is a correlation between dollar value (not price - that's interest rates) and equity valuations, metals, FX, etc. Notice how metals and equities rallied at the same time... equities have been the better hedge as we anticipated.
Note
Consolidation time?Note
not yet!Trade closed: target reached
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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.