MARKETS TECHNICAL ANALYSIS
The last post wrote those words: who is right and who is wrong, the virus, the Chinese or the investors.
We see now the impact in front of our eyes – now the question is Will we see continued sales, or will buyers come at these levels, and recovery ahead?
I’m must tell you that there was a sign that this will happen from the technical side
Will we see continued investor sales and revenue, or will buyers come at these levels, and recovery ahead?
We are facing test points in the indexes to continue along the way – if they do not hold there then we will continue to decline to areas of long-standing trend levels!
Anyone who wants is welcome to go into the previous posts to understand the whole picture and it is worthwhile in my opinion
Let’s simplify things
NASDAQ Test Level Near 8600 + _ If not held there then the expectation is for further declines towards the previous peak level area 7800
If it does not hold then there will be no escape from going downhill
A long-standing trend strip located in the 7080 area
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| markets analysis |
SP 500 Test Level Near 3030-3090 + _ If not held there then the expectation is for further declines towards the previous peak level area 2890
If it does not hold then there will be no escape from going downhill
A long-standing trend strip located on the 2580 area
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| SP 500 CHART |
DOW JONES Test Level Near 26500-26700 + _ If not held there then the expectation is for further declines towards the previous peak level area
If it does not hold then there will be no escape from going downhill
A long-standing trend strip located on the 24,400 area
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| DOW JONES chart |
It is difficult to assess what will happen, but you should pay close attention to these levels in order to make decisions down the road
p.s – Wednesdays tend to be turbulent in upside-down markets – I wouldn’t be surprised if today looks like a recovery day
And on a personal note, I wish you all the best of luck and health
This review does not include any document and/or file attached to it as advice or recommendation to buy/sell securities and/or other advice