Morgan Stanley (MS) is one of the top Financial companies in the US.
It appears that MS is currently in a fifth Elliott wave up from the March 2020 bottom.
There are double bearish divergences on the weekly Stochastic, RSI and MACD - Histogram. Additionally Histogram is below the zero line.
After the supposed fifth wave is completed, it implies a multi month decline could retrace at least 38% of the March 2020 to May 2021 rally.
MS - Elliott wave pattern and momentum indicators are additional evidence that a significant US stock market top could be forming.
Mark
It appears that MS is currently in a fifth Elliott wave up from the March 2020 bottom.
There are double bearish divergences on the weekly Stochastic, RSI and MACD - Histogram. Additionally Histogram is below the zero line.
After the supposed fifth wave is completed, it implies a multi month decline could retrace at least 38% of the March 2020 to May 2021 rally.
MS - Elliott wave pattern and momentum indicators are additional evidence that a significant US stock market top could be forming.
Mark