Scenario 1: ABC Zig Zag that doesn't turn into bearish impulse. The two previous candles seem as if the bulls tried to push up a bit on average volume. RSI is oversold. Could it make a lower high this week after the massive Friday sell off? This could be the start of an impulse wave to the upside with a minor pullback to what would be a 2 wave. My only doubt here is with the FED raising interest rates to lower inflation from the current 8.50% to the year end goal of 4%/3.75%. Other economic indicators doesn't show enough for me to think positively about this market.
Scenario 2: ABC Zig Zag turns bearish impulsive. Weekly RSI is overbought and is crossing down and looks like it wants to test the $361 lows. SPY rose a bit today on low to average volume so I don't really trust big moves to the upside. We have a decent amount of FED speakers this week and I'll be following the economic data. I doubt smart money will feel confident enough to push the market up short term. Regardless, this scenario is the scenario I see playing out in the coming days to weeks.
What do you think?
Scenario 2: ABC Zig Zag turns bearish impulsive. Weekly RSI is overbought and is crossing down and looks like it wants to test the $361 lows. SPY rose a bit today on low to average volume so I don't really trust big moves to the upside. We have a decent amount of FED speakers this week and I'll be following the economic data. I doubt smart money will feel confident enough to push the market up short term. Regardless, this scenario is the scenario I see playing out in the coming days to weeks.
What do you think?
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.