Rally Running Out Of Steam?
Thanks for reading my idea.
An ascending wedge has formed in the Dow which is bullish, however the rally looks to be tiring
with lower volume and breadth. This is concerning in that prices have gone sideways to slightly up for three weeks and with a backdrop of negative news building...my bullish theme has diminished.
Seems the market is waiting for a catalyst event or excuse to break one way or another...my longs are closed now...better to take a profit off the table.
We can enter short or long at another opportunity.
Good Trading
An ascending wedge has formed in the Dow which is bullish, however the rally looks to be tiring
with lower volume and breadth. This is concerning in that prices have gone sideways to slightly up for three weeks and with a backdrop of negative news building...my bullish theme has diminished.
Seems the market is waiting for a catalyst event or excuse to break one way or another...my longs are closed now...better to take a profit off the table.
We can enter short or long at another opportunity.
Good Trading
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.