The short term bottom is in for the markets. Bullish divergence patterns for RSI and MACD. Barring any insane Ukraine news and oil continues to flow expect it to be bullish.
The most simple chart you will ever see on here. Prepare for test of Feb/March lows in the next month +. Lag in COVID-19 deaths to cases and school reopening disasters will create a firestorm of paranoia as most Americans will cut back without certainty. See you at the bottom!
Currently the 200 day moving average around $11.3K is being defended. The next few days are crucial as a break below that will break the overall trend it has followed since the lows. It also coincides with the 38% FIB retracement support level. If anything expect a bounce and if sustained a continue rally in prices until a retest of all time highs.
The last few days (beginning of June) were incredible with the DOW up almost 700+ points in 3 days. Drivers of this include the possibility of the Powell Put/Rate Cuts, delay of Mexico Tariffs, and so called "progressive" Chinese meetings (mostly jawboning but hey it works.) As usual the market always maintains mostly buy on the rumor, correct a little if its...
