Markets never care about the news, dont start believing now
I am bullish for at least a bounce to retest all time highs with buys in the purple box.
The amount of world headlines that have absolutely tried to pummel the market is astonishing.
War, inflation, Interest rate rises, supply chain issues, etc and here we are less than 15% from all time highs.
There is bullishness in the indicators, with divergences in MACD and RSI. Price is actually testing the upper trendline before its "parabolic" rise the last two years.
Admittedly, this is my last bullish scenario though. If we get closes below the falling wedge and below the trendline at about 396, id look to short any bounce long term after that.
Right now, wait for confirmation. Do not be fooled. Sentiment is at a low. Do not sell in fear, at LEAST a bounce is incoming, then reassess.
The amount of world headlines that have absolutely tried to pummel the market is astonishing.
War, inflation, Interest rate rises, supply chain issues, etc and here we are less than 15% from all time highs.
There is bullishness in the indicators, with divergences in MACD and RSI. Price is actually testing the upper trendline before its "parabolic" rise the last two years.
Admittedly, this is my last bullish scenario though. If we get closes below the falling wedge and below the trendline at about 396, id look to short any bounce long term after that.
Right now, wait for confirmation. Do not be fooled. Sentiment is at a low. Do not sell in fear, at LEAST a bounce is incoming, then reassess.