I think, S&P 500 didn´t set top yet, because chart of dollar (DXY) shouldn´t be prepared for some rallye YET.
However I think, we are currently in 5th wave of big cycle, we have big daily bearish divergence, typical for 5th waves and we also have some minor bearish divergences on daily RSI. Also some charts are not ready to dump, for example AMZN (Amazon) should be just days from break to the upside and many other charts are suggesting, that we will continue upside for some time. After DXY will finish it´s 5th wave, then I will be SUPER CAUTIOUS, because everything will be probably lined up and the uptrend in stock market could end for some time.
However I think, we are currently in 5th wave of big cycle, we have big daily bearish divergence, typical for 5th waves and we also have some minor bearish divergences on daily RSI. Also some charts are not ready to dump, for example AMZN (Amazon) should be just days from break to the upside and many other charts are suggesting, that we will continue upside for some time. After DXY will finish it´s 5th wave, then I will be SUPER CAUTIOUS, because everything will be probably lined up and the uptrend in stock market could end for some time.
Kommentera:
DXY is definitely the king of the all charts, it should be in every watchlist.
