Firstly, the bearish engulfing candle on last weeks move.
This for me will be the first punch in which is going to a slug fest this year.
The market carries in overwhelming bullish sentiment into 2024 post the AI frenzy last year and Powell's suggestion that US interest rates may have peaked.
Opinion is divided and throw in major elections this year i can only see increased volatility this year and you will need to strap yourself in.
This for me will be the first punch in which is going to a slug fest this year.
The market carries in overwhelming bullish sentiment into 2024 post the AI frenzy last year and Powell's suggestion that US interest rates may have peaked.
Opinion is divided and throw in major elections this year i can only see increased volatility this year and you will need to strap yourself in.
Note
The market continues to grind and this week will give us the next clear indication on possible moves with FOMC and NFP and earning's of major IT companies. It is so challenging to fight a trend which is so well established and underpinned by AI stock's in demand.
For me watching price action if the ST top isn't in the next test at 18 000 or just over will prompt a larger correction and that correction should see a test of 16600.
Trade closed: target reached
Again targets being met and time to becareful now i get the fedding frenzy that abounds in the market but caution needed now.
Mark Langley
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Mark Langley
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.