Selling coming in hot!
MoM economic reports are beginning to show very meager results. Optimism is slowly fading out, and we're starting to have more bears in the market.
Impact from interest rate hikes will take a while to show. Middle and lower income are feeling the pinch, but the market has been more resilient as we have learnt from history.
The retail stock market hasn't come to a point where they need to liquidate for their livelihood or they can't take the pain from buying the bear rally. Whatever it is, we do see multiple bear rallies on the lower time frame. Zooming out, we are still in that downtrend, and rightfully so.
Strong resistance become support @ 3900 is being re-tested for the 3rd time. Will it hold and close the week above support?
Calling for sells on break and re-test of 3900, if it fails to break back above the key price zone of strong support/resistance.
Impact from interest rate hikes will take a while to show. Middle and lower income are feeling the pinch, but the market has been more resilient as we have learnt from history.
The retail stock market hasn't come to a point where they need to liquidate for their livelihood or they can't take the pain from buying the bear rally. Whatever it is, we do see multiple bear rallies on the lower time frame. Zooming out, we are still in that downtrend, and rightfully so.
Strong resistance become support @ 3900 is being re-tested for the 3rd time. Will it hold and close the week above support?
Calling for sells on break and re-test of 3900, if it fails to break back above the key price zone of strong support/resistance.
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