Market had a substantial run over past couple of months, however in last two months it is having tough time to continue the rally. Signs are visible everywhere if you know where to look at!!! So where are we headed for next few weeks?
Divergences were visible across the board and seems like now might be the time when result will materialize. Watch for RSI to drop below 50 mark and MACD to drop below zero mark which will be confirmation that market will drop in coming weeks.
Weekly chart is also providing one clue, watch the black dotted resistance line at current market level.
Watch below two charts, which are providing incredible clues for next market direction.
Overall market is over heated and needs some rest, however we are expecting a roller coaster ride in coming weeks.
Good Luck!
Good Luck!