3 Troubled Indexes to Keep a Watch On
2024.07.09 03:52
Although most index charts are just straight-up bottle rockets, here are three oddballs that are looking in serious trouble.
First up is the , which is about 90% done with an important top (pink tint), having broken away from its failed bullish base.
Next is the , whose diamond pattern is still intact, and whose lower right trendline has served as reliable resistance for months. The cool thing is that prices are clinging to the Fibonacci like epoxy glue. If we can break below the Fib, it’s party time.
Last is the , in which I’m participating by way of September puts.
I have overlaid three exponential moving averages which, for the moment, are still bullishly configured, but take note how the 50 is close to breaking below the 100. Let’s keep an eye on this.
