I'll post the Daily chart which paints a similar picture. Overall strength is waning, and bearish formation are developing in both weekly and daily charts.
Nothing is confirmed yet by price action, however this article by Ed Carlson points to the SOX/SPX ratio and it's already broken it's H&S pattern as well.
www.traderplanet.com...g-stock-market-drop/
Worth keeping an eye on.
Nothing is confirmed yet by price action, however this article by Ed Carlson points to the SOX/SPX ratio and it's already broken it's H&S pattern as well.
www.traderplanet.com...g-stock-market-drop/
Worth keeping an eye on.