Bearish Signal: Market is under distribution
Updated
As markets rally higher on lack of trade wars rhetoric and investors shifting focus on earnings, we see that the market is under distribution. As prices move higher, the A/D line has moved slightly lower over that same period. This suggests profit taking and possible entry for opportunistic shorts. Look to sell rallies into trendline resistance and target $258 support area.
Trade active
Trade is working out nicely, today's engulfing candle suggests continuation lower to our $258 target.
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