The NASDAQ just carved out 2 consecutive bearish shooting stars after testing resistance.
The 60 minute view of the S&P shows negative divergence of the RSI and MACD to higher prices. This foreshadows the end of the move. I doubt there will be a reversal unless we get a major catalyst, but a pause is likely as we approach the congestion zone on the monthly timeframe.
The $USD is setting up for a test of major support. Gold, oil and commodities bounced in the last two days.
2 comments:
The monthly SPX is starting to approach the ambush zone. It would be interesting to see what August would look like.
Good observation Anarco!
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