To Investors,
Lets go over the 4 charts we follow along with a bonus. Yesterday I had written how I was more bearish than bullish and if there were some bullish signs it was to be proceeded with caution. As it turns out we had a good bit of selling across the board. with all the indexes falling along with Gold moving sideways and Bitcoin falling. Lets dive into the charts and see where things are at.
Dow30
The fact that the Dow can’t head lower than the low we saw at 34,540 cold mean sellers are getting tired however the we do not have clear buying signals just yet. Sideways to bearish. S&P 500
Similar to the Dow the SPX can’t really make up its mind as we continue to oscillate bak and forth. It is likely we are waiting to see what else the Fed is going to throw at the market and how it may react. Gold
This has got to be the most boring market price action we have seen lately, days on end of no direction. Money continues to go out of gold. Though a bounce could be possible sellers look to be in charge here. Bitcoin
We sit at the low 45k’s with more money flowing out of the asset. While we bounced and have stayed above the Fib level sitting at 44,950 level it would not surprise me if we head lower and test the 43k level of support. It is currently a sellers game. Home Depot
There appears to be bullish divergence on HD as price made a lower low and momentum make a higher low than the one previous. While the indexes are neutral to bearish going long may be risk here but it looks HD could be heading higher. Current Price is 304.86 To your fortune,
AK