Should You Be Concerned About the Big Downside Rotation in the U.S. Markets?
Research Highlights:
* Don’t panic. Technical Analysis does not confirm a deeper
Is this the “Bull Trap” setup we have been warning about for some time now? Should traders be concerned about deeper downside price trends or a collapse in the markets?
We believe this current downside price rotation is just a well deserved (and somewhat overdue) price rotation related to the recent advance in stock valuations. Currently, the VIX is moving lower and the volume in the markets is suggesting the deepest part of this price move may be over (for now). Bonds are moving lower while precious metals are moderately higher. We don’t believe this current downside price move has any more momentum left – at least headed into the long holiday weekend.
This Daily INDU chart below highlights two key price levels that are acting as support right now, the 27,525 and 26,000 levels. This recent downside price rotation stalled very close to the 27,525 level and began to rally from those lows….Continue Reading Here.
Source: http://crudeoiltrader.blogspot.com/2020/09/should-you-be-concerned-about-big.html
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