We have DJ that looks to be steadily on the rebound since hitting low on 30 September, climbing above it's 200 day moving average as well as a major trendline resistence by 10 Novemeber and has not looked back since. However, it is the only index that is no longer "bearish"
On the other hand, both NQ and SPX hit a low in mid Oct, attempted to rally but failed at it's major trendline resistence around 13-14 Dec and then retraced sharply, with NQ being the weaker of the 2.
With such mixed bag, it is no wonder we aren't seeing real fear nor real greed.
In fact, DJI's strength has been a silver lining.
However, until NQ (tech stocks) can break above it's trendline resistence and 200 day MA and take the momentum lead to the upside, we could continue to be whipsawed between short term greed and fear. So until then, short term traders (long or short) could fear better in current market.
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!
On the other hand, both NQ and SPX hit a low in mid Oct, attempted to rally but failed at it's major trendline resistence around 13-14 Dec and then retraced sharply, with NQ being the weaker of the 2.
With such mixed bag, it is no wonder we aren't seeing real fear nor real greed.
In fact, DJI's strength has been a silver lining.
However, until NQ (tech stocks) can break above it's trendline resistence and 200 day MA and take the momentum lead to the upside, we could continue to be whipsawed between short term greed and fear. So until then, short term traders (long or short) could fear better in current market.
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!