Last weeks map performed just as planned, however we're now seeing an inverted W on most charts and a up trend from here wouldn't be impsossible.
Bitcoin crashing could however set a fear in the market and create an even further downside.
Keep an eye out, if it passes trough the inverted W formation it will likely go further down.
DJI - Has support at 33300, looks decent... STOCH points to a it going a bit further down but shoulden't peak trough the support before a bounce.
NDX - Still in a down-trend, though historically downtrends usually bounces trough the trend on the forth wave, I think we could still see some downside but to some limited degree-
considering most stocks in the index is already down -60% since their tops and deadcat bounces are cmon.
SPX - Right on support, though STOCH and RSI points towards a slight more downside.
RUT - Technically looks pretty solid but once again, you never really know with Russell do you...
Bitcoin crashing could however set a fear in the market and create an even further downside.
Keep an eye out, if it passes trough the inverted W formation it will likely go further down.
DJI - Has support at 33300, looks decent... STOCH points to a it going a bit further down but shoulden't peak trough the support before a bounce.
NDX - Still in a down-trend, though historically downtrends usually bounces trough the trend on the forth wave, I think we could still see some downside but to some limited degree-
considering most stocks in the index is already down -60% since their tops and deadcat bounces are cmon.
SPX - Right on support, though STOCH and RSI points towards a slight more downside.
RUT - Technically looks pretty solid but once again, you never really know with Russell do you...
Note
(RUT)Bearish Divergence in daily, H&S and extreme MACD in weekly/monthly with weekly already turned over towards downside.
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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.