Although I biased bearish for the past year, the markets are clearly oversold and, furthermore, appear to be showing consolidative pattersn.
FAANG index is also showing bullish consolidation.
We have a falling wedge and a strong bullish RSI convergence.
I believe the recent downturn was also an ABC move.
So, in short, although we are down a lot, we have a very bullish outline despite the bearish macro-narrative.
FAANG index is also showing bullish consolidation.
We have a falling wedge and a strong bullish RSI convergence.
I believe the recent downturn was also an ABC move.
So, in short, although we are down a lot, we have a very bullish outline despite the bearish macro-narrative.