Broken ending diagonal wedge, and currently trading within the daily MA 50 & 200 range.
5000 is also a significant psychological numeric & 2000 technology bubble resistance.
It seems that the market is currently stuck in a range until contagion tears this apart to the downside. (Grexit? China bubble? US macro weakness?)
I'll be expecting 10~20% correction soon, unless FED decides to pump this straight to the stratosphere for a lehman-sister moment which I don't see it happening given Yellen's stance that the market 'is quite high'.
5000 is also a significant psychological numeric & 2000 technology bubble resistance.
It seems that the market is currently stuck in a range until contagion tears this apart to the downside. (Grexit? China bubble? US macro weakness?)
I'll be expecting 10~20% correction soon, unless FED decides to pump this straight to the stratosphere for a lehman-sister moment which I don't see it happening given Yellen's stance that the market 'is quite high'.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.