Combined US Equities Lousy Breakout means Breakdown
The combined US equities chart failed to push significantly and is consolidating. when it does this, it looks like it is rolling over to fall off a cliff.
IF we look carefully, besides the weakening technical indicators, there is also weakening price action, with the second or third lower high in the hourly time frame.
That said, the decision box needs to be broken out of, and then the critical support (red line).
Once these give way, it would be too obvious and there should be a sizeable retracement to the previous support, now being the downside target.
IF we look carefully, besides the weakening technical indicators, there is also weakening price action, with the second or third lower high in the hourly time frame.
That said, the decision box needs to be broken out of, and then the critical support (red line).
Once these give way, it would be too obvious and there should be a sizeable retracement to the previous support, now being the downside target.
Note
Broken down out of Decision Box
and broke the support as well.
On track to aim for downside target...
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