Combined US Equities Breakout late October
Very quickly, the expected breakdown did not happen, and this week saw the an across the board bullish breakout. Noted the breakout is long in the teeth (old and late) and while bullish, it is not strong nor convincingly sustainable. Reminiscent of this expectation is the MACD and VolDiv looking lackluster.
Expected top marked, and after 21 Oct needs a review... that would be the projected resistance for a stronger pullback.
Bullish for now and the week ahead.
Enjoy, make hay while the sun shines!
Expected top marked, and after 21 Oct needs a review... that would be the projected resistance for a stronger pullback.
Bullish for now and the week ahead.
Enjoy, make hay while the sun shines!
Note
two days later a Bearish Engulfing forms at a high... hmmm
Retrace slightly to push upward to target.
Watch for it...
Note
A good thing that the Bearish Engulfing was followed by a slightly bullish candle... else it would have been confirmation of a trend reversal down. Looks more and more bullish to me now!
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