(This post was last modified: 2020-05-08, 11:58 AM by marry123.)
RE: US Stocks Breakouts & Breakdowns - SP500, NYSE, & Nasdaq Stock Charts
(2020-05-06, 03:28 PM)shaunattwood Wrote: MACD on Dow INDU finally doing a bearish crossover, indicating rally might be over, a leveraged short can be had by going long SPXU @ $15.75
I think the Dow won't go much higher than 24,000 short term, but downside is 7-10,000 points
Markets looking really strong as still many bears out there. I would not be surprised to test all time highs this year as the market just climbs a wall of worry. I will be surprised to see the S+P pull back under 2600.
IF INDU breaks above its RSI trendline it will be gone to the upside (has yet to do that so the bearish side can still play out and of course the 30 ma is falling so that is obviously still something that would need to be overcome if we were to see all time highs this year).