When we look at the technical macro of the American stock market, we see an alarming combination between a strengthening dollar (see the graph of the monthly dollar index, a bullish Japanese pattern of the morning star type), the monthly Nasdaq index, which ends the structure of a harmonic reversal pattern of the ABCD type (see the attached monthly graph of the Nasdaq) and in addition , a daily bearish ascending converging triangle pattern of the S&P 500 index. All of these require our attention to the possibility of a correction or even a change of direction in the short to medium term.
Attached is a daily graph of the S&P 500 index:
Attached is a monthly graph of the Nasdaq index:
Attached is a monthly graph of the dollar index:
No comments:
Post a Comment