I’m still bearish, why?
- We’ve been having quite a rally for last few weeks. We are very close to 61% fibonacci, that will be strong resistance 4250.
- July 2022 CPI was good but the market didn’t go much higher
- we are almost overbought on daily chart
- MACD looks like it might turn around soon
- buyers are running put of steam, the market didn’t do much in the last week
- possible divergence is forming
- VIX is pretty low, on the border of being oversold, it’s been in the downtrent for almost two months. As we know the markets never go in one direction, there are highs and lows.
All eyes on jobless claims tomorrow.
I still can be wrong. Trading is risky, please do your own analisys before entering the markets
- We’ve been having quite a rally for last few weeks. We are very close to 61% fibonacci, that will be strong resistance 4250.
- July 2022 CPI was good but the market didn’t go much higher
- we are almost overbought on daily chart
- MACD looks like it might turn around soon
- buyers are running put of steam, the market didn’t do much in the last week
- possible divergence is forming
- VIX is pretty low, on the border of being oversold, it’s been in the downtrent for almost two months. As we know the markets never go in one direction, there are highs and lows.
All eyes on jobless claims tomorrow.
I still can be wrong. Trading is risky, please do your own analisys before entering the markets