Weak Technicals Clouding the Markets

 


Update on US Markets after Fed announcement:
Weak demand for S&P 500 can been seen on fake break (Upthrust) and as observed in FFI (Fund Flow Index) diverging trend from the index. 

Thus, despite last night's late buy up, caution remains on the overall market with close watch on trendline and any incoming market supply.



Dow theory is also displaying weak or bearish technicals. Dow Jones Transportation has broke critical neckline (fell thru the Ice) as Dow Jones Industrial broke its uptrend line.

Upon DJI breaking its neckline, downtrend for US markets will be confirmed.
 

To forecast market trends and read technical signals effectively:
Effective Technical Analysis and Market Forecasting 
(Online Class)
1st July 2021, 7.30pm (SG)

Blog Disclaimers Apply

Popular posts from this blog

MIT: Expecting Change of Momentum after Existing Downtrend Line

Keppel DC REIT, Are We There Yet?

Expecting Further Upside for Tencent (700:HK)