Investing1o1
2022-08-14

With $NASDAQ 100(NDX)$$S&P 500(.SPX)$overbought now on daily chart, this week will probably give us a decent pullback before moving up again or we could just see an overall change of trend like what happened during late march - early april when markets went overbought on daily charts.

We are staying nimble as usual. Every signal was right up until friday!


When markets are overbought with smaller timeframes on multiple negative divergences, its time to stay nimble and defensive. Not overly bullish. There are also signs of $Light Crude Oil - main 2208(CLmain)$ ,$Cboe Volatility Index(VIX)$, $Micro 10-Year Yield - main 2207(10Ymain)$& DXY (USD) all looking to do a reversal / relief rally on the weekly charts! If those 4 tickers do a rally, the index will most definitely PLUNGE! 



As always trade safe and invest wise!

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Comments

  • OldCat
    2022-08-15
    OldCat
    Please like this comment
  • psk
    2022-08-15
    psk
    thanks. waiting to drop and buy again.
  • BellaFaraday
    2022-08-15
    BellaFaraday
    You're a master technical analyst, am I right?
  • Maria_yy
    2022-08-15
    Maria_yy
    Let's keep an eye on the VIX.
  • ElvisMarner
    2022-08-15
    ElvisMarner
    Hopefully Nasdaq will surprise us this week.
  • MortimerDodd
    2022-08-15
    MortimerDodd
    Callbacks are actually good for us.
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