$DJI $NDX $SPX show warning signs Update
Good Morning!
We turned neutral, from Bullish Sept 2022, late July - early August.
Since then #stocks have traded slowly lower.
For the moment all major indices trade ABOVE longer term moving avgs. This tends to be a good sign. However, they're all trading sub short term moving avgs.
Furthermore:
Indicators like RSI & Money Flow have eroded recently
They've also formed ominous patterns, as follows:
DJI formed Rising Wedge.
NDX $ 
SPX Head & Shoulders.
Most likely these patterns will resolve soon. Either confirm or break.
Have an awesome trading week!
We turned neutral, from Bullish Sept 2022, late July - early August.
Since then #stocks have traded slowly lower.
For the moment all major indices trade ABOVE longer term moving avgs. This tends to be a good sign. However, they're all trading sub short term moving avgs.
Furthermore:
Indicators like RSI & Money Flow have eroded recently
They've also formed ominous patterns, as follows:
DJI formed Rising Wedge.NDX $ SPX Head & Shoulders.Most likely these patterns will resolve soon. Either confirm or break.
Have an awesome trading week!
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