I am a bit tired today after a long day of work. As usual, I will still take a glance on the index chart to have a feel on how the market is doing.
If you do follow my post earlier, I am bearish on the US market, but I will not open short position now. I am waiting for a rebound first then open a short position near the high of the rebound.
Is now the moment for the rebound to happen?
I scan the US market using candlestick rules, I saw a bullish engulfing happened in the past 2 days on Dow Jones and S&P500, which could signal a possible rebound up. The market has been diving for about a month, it should have some healthy rebound to take a breathe first. That’s the reason you can also see the Dow Jones and S&P500 was hovering sideway near a support now.
I will be looking at both indices to rebound and resist at the 20d MA before another round of diving again.
DISCLAIMER: This information is used for learning purposes only. It does not constitute an offer or solicitation to buy or sell. You should do your own analysis on top of my postings.
