Volume and trend analysis showing key levels to watch. But in this market single chart analysis is not enough. I look at Dollar Index, Gold, 10Y Treasury Bonds. All indicate low confidence in USA economy. Unless these improve I will remain bearish even if SPX,SPY breaks to the upside.
But most likely the markets will reverse at max resistance, as the hedge funds who are under liquidity pressure will start selling again
But most likely the markets will reverse at max resistance, as the hedge funds who are under liquidity pressure will start selling again
Trade active
First price resistance reached. Taking small short but I would like the volume to drop further before adding more. Apple was rejected by the rising trendline, NVDA at upper end of declining trendline indicates exhaustion. Price could hang around here this week and move after this weeks options expiry on 17 AprilNote
Added more short with drop in volume as expected. Next spike in volume could be stock moving up or down. But with tariff on semi-conductor being announced next Monday I expect the market to be nervous and sell next two days. I will close my trade by Thursday close 
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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.