Tencent has bottomed.
- Inverse H&S
- High volume
- Support from 200 WMA
- Support from trend line
- Oversold RSI
What else bottoming out needs? Nothing IMO.
Tencent has bottomed.
- Inverse H&S
- High volume
- Support from 200 WMA
- Support from trend line
- Oversold RSI
What else bottoming out needs? Nothing IMO.
Third day below 50 DMA. It's clear that breakout has happened. It will take some time before the ship turns.
As long as S&P stays below 50 DMA, I am bearish.
after 540 days of S&P 500 going basically straight up there is a crack in "smooth market functioning". Breakout from the rising wedge and breakout below 50 DMA. This will cause a major correction between 10-20%.