I created this indicator to combine several market internal and sentiment indicators. The readings seen currently are below the March 2020 Covid sell-off readings and approaching what we saw in Dec 2019, which was a pretty bad month for that year as some of you might remember. This indicator can act as both a warning and as a 'get ready to buy' indicator. ...
If you had caught the rounded bottom pattern on the daily, you'd have done well with this one. Think this could double as it doesnt seem to be another low float pump...been under accumulation since may as you can see..and is now catching some eyes given the Microsoft and SHOP deals
Heavy resistance from 50MA/EMA, and lopsided neckline of an H&S. Good catalyst for a breakout for a sector that has been severely lagging and heavily shorted.
