Bullish Trend Appears to Be Weakening
The Bullish run appears to be weakening and nearing it's end as it's near the ceiling of the flag pattern. AAPL and MSFT which are heavily weighted for SPY also appear to be weakening, and VIX appears as it could be on the rise. Indicators are showing signs of weakness and there is a Bearish divergence showing on the oscillators. Appearing in the candle patterns are a Doji star followed by a hanging man, which are also signs of weakness.
*** This is not an entry point, but a signal to look for a short opportunity in the following candles to come should an opportunity present itself. ***
This is not financial advice and is merely just an opinion so please exercise with caution and never enter a trade blindly. There is no such thing as a full-proof strategy.
Also, be sure price action doesn’t Bullishly Bounce off the previous level of resistance which is now the support. If this happens it could mean that it’s just a minor pullback. Lastly, another caveat, volume is currently low right now as the market is typically slow during lunch arrows. I expect things to pick up soon. Monitor volume closely to ensure it supports the evidence, that the move is valid and that there are no anomalies.
*** This is not an entry point, but a signal to look for a short opportunity in the following candles to come should an opportunity present itself. ***
This is not financial advice and is merely just an opinion so please exercise with caution and never enter a trade blindly. There is no such thing as a full-proof strategy.
Also, be sure price action doesn’t Bullishly Bounce off the previous level of resistance which is now the support. If this happens it could mean that it’s just a minor pullback. Lastly, another caveat, volume is currently low right now as the market is typically slow during lunch arrows. I expect things to pick up soon. Monitor volume closely to ensure it supports the evidence, that the move is valid and that there are no anomalies.
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.
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.