US Stocks Breakouts & Breakdowns - SP500, NYSE, & Nasdaq Stock Charts - Page 433

(This post was last modified: 2020-03-22, 10:58 PM by shaunattwood.)

RE: US Stocks Breakouts & Breakdowns - SP500, NYSE, & Nasdaq Stock Charts

as I had my shares on margin, I was forced to sell by stop losses approx 2 weeks ago, people are asking whether they should repurchase now: catching falling daggers applies: I think it's madness to buy the dip until the MACD has crossed over into bullish territory: the black line at the bottom needs to cross back over the red line
if this is a bear market as opposed to a correction, we will find out if the Dow violates 22,000, there is no support until 18,000, yes there will be huge rallies as it zigs and zags, but the trend is firmly down and the average bear market is nine months
#caution

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RE: US Stocks Breakouts & Breakdowns - SP500, NYSE, & Nasdaq Stock Charts

Dow rapidly sliced through 22,000, and hit almost 18,000 support, so now 22,000 to 23,000 zone becomes overhead resistance. I'm itching to short (by purchasing SPXU) but MACD just did a short-term bullish crossover. If America becomes the coronavirus epicentre, the next support level of 15,000 could easily be challenged. The market is so volatile, I'm still on the sidelines.

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