S&P500 have been building a market top since the start of October 2014 in a rising wedge fashion.
Since last Thursday (4/6/2015), it looks like it is finally ready to roll off having closed below the support line for the first time.
It made a new high at 2137 in a relatively low volume but failed to push past further.
This time I simply do not expect it to bounce back strongly like October 2014 with the looming rate hike by the FED. Corrections of 10~20% is justifiable for a healthy growth in order to shake off some weak hands.
With Greece issue looming, bears surely have more reasons to sell.
Nasdaq daily:
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China equity bubble is almost catching up Japan, US, and Europe.. next few months will be pretty interesting.
Since last Thursday (4/6/2015), it looks like it is finally ready to roll off having closed below the support line for the first time.
It made a new high at 2137 in a relatively low volume but failed to push past further.
This time I simply do not expect it to bounce back strongly like October 2014 with the looming rate hike by the FED. Corrections of 10~20% is justifiable for a healthy growth in order to shake off some weak hands.
With Greece issue looming, bears surely have more reasons to sell.
Nasdaq daily:
---------------------
China equity bubble is almost catching up Japan, US, and Europe.. next few months will be pretty interesting.