Market stalling after hitting the extreme overbought zone. How should we interpret current sentiment and the signal? I explain in the new video below.
SPY
QQQ
SMH
🚨 EXPLAINED IN THIS VIDEO 👇
Covered: SPY QQQ SMH AAPL MSFT NVD...
Are the lows are in for SPY QQ SMH? Is this market preparing to make new highs and continue with this strength we've witnessed this week? Or are we going to face SHENANIGANS to shake out more people?
65MIN CHART
We are currently in short-term downtrend as the price continues establish lower highs and lower lows
Oscillator, however, it has been establishing higher lows (see arrows)
This is what is known as the "Bullish Divergence" which it nee...
Multi-year divergence signal continues to flare on AAPL. Would this signal lead to a steep correction going forward or can the buyers neutralize this threat?
OVERBOUGHT SIGNAL
Since the market has bottomed in October of 2022, overbought signal has been met with oscillator resetting to the bottom of the band (see chart below).
This is the first time since the March of this year that the oscillator has not retested...