Last weeks map performed just as planned, however we're now seeing an inverted W on most charts and a up trend from here wouldn't be impsossible.
Bitcoin crashing could however set a fear in the market and create an even further downside.
Keep an eye out, if it passes trough the inverted W formation it will likely go further down.
DJI - Has support at 33300, looks decent... STOCH points to a it going a bit further down but shoulden't peak trough the support before a bounce.
NDX - Still in a down-trend, though historically downtrends usually bounces trough the trend on the forth wave, I think we could still see some downside but to some limited degree- considering most stocks in the index is already down -60% since their tops and deadcat bounces are cmon.
SPX - Right on support, though STOCH and RSI points towards a slight more downside.
RUT - Technically looks pretty solid but once again, you never really know with Russell do you...
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(RUT)
Bearish Divergence in daily, H&S and extreme MACD in weekly/monthly with weekly already turned over towards downside.
Pull up the monthly MACD on the Rut. Is there anything normal about that picture to you, or maybe it's just me. I don't see how the RUT can digest the parabolic thrust over the past 13 months without having a significant correction.
Oerhortbegovad
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@stckpkr70002, Yeah you're right, however I think we may just be in the beginning of a much bigger correction that will take time to play out. Looking closer I noticed we're seeing a Bearish RSI Divergence in daily. MACD in daily does look a bit scetch however I think if it breaks the line I put out thats where we may have a problem, If it continues with the trend it still has some upside.
Weekly MACD does look VERY bearish but in monthly It hasn't turned around just yet, I think we'll deffiently see somewhat of a bigger move in the comming times, the H&S pattern in itself is usually bearish...
stckpkr70002
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@Oerhortbegovad, Thanks for such a great and thoughtful response!