Rarely do broad indexes hit the 200 SMA weekly average and linger/consolidate around it for long nor does it break through below it with the exceptions of major catalysts say a major default in banking/in any industry.
The chart says it all, with the current price being at the lowest point of the value area for the past 1-1.5 year and price hitting the 200 SMA...
As the chart says!
I'm not bearish on the market AT ALL, I'm just laying out there some observations I saw in the market.
It could look like we could be seeing a stock market correction similar to that of around October-November 2020, where growth stocks took a huge hit.
Technicals:
a). MACD crossing on NEW HIGHS
b). Divergent RSI (Which is not a good...
Disclaimer: I'm not a financial advisor. Before committing into an investment based on my positions, do your OWN due diligence. It is not intended as legal, financial or investment advice and should not be construed or relied on as such. Before making any commitment of a legal or financial nature you should seek advice from a qualified and registered legal...
Disclaimer: I am not a FINANCIAL advisor as this is just my own due diligence. It is not intended as legal, financial or investment advice and should not be construed or relied on as such. Before making any commitment of a legal or financial nature you should seek advice from a qualified and registered legal practitioner or financial or investment adviser....
