Mentorship

Mentorship

Dow

5 Oct 2016 ‚óŹ 07:24 AM

My bias for US equities remains bearish as weekly momentum indicators remain in sell mode. However weekly closing is still above the 20/40 day averages which are working as near term support levels as well. The daily chart shows prices struggling below the averages in a trading range. Each dip within the range appears impulsive down and rallies a-b-c on hourly charts so I have marked the decline as a developing impulse.

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