Trading volume in aggregate across constituent members of the s&p 500 fell short of the 50 day simple moving average for trading volume for that index on it’s first “up” day after exceeding the 50 day sma on four consecutive “down” days….
It should be noted, though, that a trend in the opposite direction, going down, exists on the 14 day timeframe.
Given that we see an uptrend on the 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
It’s been a feast for bulls operating on an hourly timeframe, as ndx has now gone up 4 of the past 5 hours.
We continue to see that the 3 major indices have formed h&s tops downside price targets are about 10% below current levels.
My math is likely not exact but i have $tsla having contributed about 0.50% to that all by herself.
And for candlestick traders, a special treat: there are doji and pin bar patterns showing up on the charts as well.
The tech-heavy index travelled 3% from high to low friday and is 11% from its sept. 2 record…
49.34%) This is just for comparison as amfi might not allow bm weighted avg tri.