Tech sector is weak overall. Lead by major offloading in the Semis.
Combine this with increased QT which began on Sept 1st and we can see more downside.
Technical:
Broke major daily trendline, indicating more downside. We could bounce and retest the line before the next leg down
Fib retracement, still hovering within a potential bounce range.
12,000 QP psych...
Monthly is basing around demand zone
Weekly basing around demand zone
Daily basing around demand zone and at the bottom of the wedge formation
SL is set tight (50ish pips)
RR calculated (650ish pips)
This is a multi-week swing
SPX500 is ranging on the timeframe pretty nicely
The channel is very much present
On the daily timeframe, looks like we forming a bear flag (Price is going up, volume is decreasing on Daily = Bullish momentum slowing and bears coming)
LTCUSD on the daily timeframe.
Currently bouncing off the 0.618 fib level but strength and volume is not there
I will be looking for some consolidation between the next golden pocket fib levels and see LTC between 169-180 range before making its next leg to the upside
ETHUSD Chart.
Trading in a range right now btw 4000 - 4400
Bounced off the 0.618 GP level on the daily
RSI is at 45.85
Could see further consolidation before a move higher
