Looks like the market is overbought like it has three times in the past.
This red line is the top of the momentum indicator. This is a major correction level because the market is overbought.
The blue waves are momentum.
This red line is the top of the momentum indicator. This is a major correction level because the market is overbought.
The blue waves are momentum.
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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.