Fast chart AKA 1H and below

Whales swimming south.

In summary, the technical indicators and trend lines being discussed in the information provided are pointing towards a bearish market trend. The moving averages, such as the Exponential and Simple Moving Averages, are all indicating a downward trend, with values below the current market price. The RSI is also showing that the market is consolidating above the oversold area, which may indicate a period of stability before potentially moving lower. The trend lines, including the orange line referred to as the static trend line and the 20 day exponential moving average (20 DEMA) as a dynamic trend line, are also pointing to a downward trend.

Short sellers are currently in control of the market, meaning they believe the market will continue to go down and are positioning themselves to profit from this trend. The market is also expected to begin a fake distribution phase, where smart money collects fear and tears from uninformed intraday traders.

The release of existing home sales data and speeches by Fed officials may have an impact on the market, and the Fed officials are entering a quiet period leading up to the FOMC meeting. Additionally, the US dollar is performing well against major trading partners, particularly against the yen and pound. Overall, this market analysis suggest a bearish trend, and traders should use these indicators and trend lines as a guide for their trading strategies.

The information provided by LewkP is for educational and informational purposes only. It should not be considered financial or investment advice. The analysis presented may not be suitable for all investors. Any opinions expressed in this analysis are solely those of LewkP and do not represent the opinions of any other party. LewkP does not provide financial advice and any analysis provided should not be used as the sole basis for making investment decisions. LewkP does not intend for the analysis to be used for intraday trading. LewkP advises that any trading should only be done with caution and only by individuals who are fully in control of their emotions and have a high risk tolerance. LewkP is not responsible for any losses incurred as a result of using the information provided.