As a follow up to my previous post on May 1st. The trend appears to be moving downward steadily. The separation from curve 1 and 4 is increasing. It implies that the momentum or overall outlook for the market is souring and has peaked. We may push against the 200 day MA sometime this week in the hourly window. After moving past the center of curve 1 we may see a...
As the saying goes, sell in May and go away. Dow Jones looks to be heading downwards. It will hit support at 24000 if it drops sharply we could possibly test 23000. Escalating trade war with China does not help and so we may test 22000 by next week. In any case, short term view is to hedge and short the market. Any long term holding will only bring pain when...
