The chart is showing a weekly approach to the zero line of the MACD where usually a pullback will happen. support lines and angles suggest a higher low but it looks like weak pressure as we continue consolidation within the pattern. We likely wont see a break out to the upside for weeks or maybe even months. This could mean ETF accumulators earning Divs may force banks to continue accumulation keeps prices from further deterioration. For the Canucks, check out YTSL which has been sold off considerably.
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.