US30 Weekly Update 12.09-16.09
It seems that US30 is making a correction, preparing for sell off, when the FED announce the Interest Rates this month. Price should go in premium price to be sold and this is what is doing now.
Fundamental analysis shows that this year will be big sell off for the US Stocks.
https://www.tradingview.com/chart/MAN_PMI/wtjvv9cB-Deep-Qualitative-Fundamental-Analysis-of-US-Economy/
From Volume analysis we can seen, that US30 rise, but without volume, leaving the clue that this may be a correction. Down volume is much more then the up volume.
US30 is already officially in Bear market and usually, when this level is touched , it come a big retracement. This retracement already happened in August, reached 61.8% Fibonacci level. So this up move should be only a shallow retracement.
I have already marked the levels, where I think the retracement will end, we have only wait the right timing. New Quarter just begun, so be patient, it will melt.
Fundamental analysis shows that this year will be big sell off for the US Stocks.
https://www.tradingview.com/chart/MAN_PMI/wtjvv9cB-Deep-Qualitative-Fundamental-Analysis-of-US-Economy/
From Volume analysis we can seen, that US30 rise, but without volume, leaving the clue that this may be a correction. Down volume is much more then the up volume.
US30 is already officially in Bear market and usually, when this level is touched , it come a big retracement. This retracement already happened in August, reached 61.8% Fibonacci level. So this up move should be only a shallow retracement.
I have already marked the levels, where I think the retracement will end, we have only wait the right timing. New Quarter just begun, so be patient, it will melt.
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