Both indices appear to be finding support at their respective near term support zones and with bullish divergence seen (between price and stochastics), a bounce is likely to happen soon.
Whether the worst is over or whether this next rebound is going to be a short-lived bear rally remains to be seen. Not time to turn longer term bearish yet despite the extremely volatility this period (not to mention all the calls out there screaming for market to crash). Just my opinion!
If we start to have a lower high (and especially followed by a lower low), then I would certainly stay very cautious.
Disclaimer: Just my 2 cents and not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Take care and Good Luck!
Whether the worst is over or whether this next rebound is going to be a short-lived bear rally remains to be seen. Not time to turn longer term bearish yet despite the extremely volatility this period (not to mention all the calls out there screaming for market to crash). Just my opinion!
If we start to have a lower high (and especially followed by a lower low), then I would certainly stay very cautious.
Disclaimer: Just my 2 cents and not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Take care and Good Luck!
Risk off now with the big bearish bar last Friday breaking near term support zones decisively and triggering a number of stops on the long trades. Expect the general market to be weak with RSI below 50.
Could have some bounce soon after such a selloff but likely to be short term due to short coverings. A (short term) trader's market at best right now.