Last week’s consecutive down days have been bad for the bulls, particularly those that seem to think that the uptrend is in tact.
not sure about what u guys think but for me we might see some non direction or a rebound here. Normal 5 days down days have been followed by strong rebound. Alot of technicians are speaking about the head and shoulders pattern. This points to a sustain downtrend. However, people making some short term shorts might feel this is a good place to take profit.
Same for the $EEM.Lower highs is never a good sign here. I am just wondering if this could turn out to be a continuation pattern.
The gold mining stock index, like the general equities market is also in a down trend. the oversold stochastic reading could bring a sharp rebound. im not sure if i wanna trade that rebound.
Kyith is the Owner and Sole Writer behind Investment Moats. Readers tune in to Investment Moats to learn and build stronger, firmer wealth foundations, how to have a Passive investment strategy, know more about investing in REITs and the nuts and bolts of Active Investing.
Readers also follow Kyith to learn how to plan well for Financial Security and Financial Independence.
Kyith worked as an IT operations engineer from 2004 to 2019. Currently, he works as a Senior Solutions Specialist in Fee-only Wealth Advisory firm Providend.
You can view Kyith's current portfolio here, which uses his Free Google Stock Portfolio Tracker.
His investment broker of choice is Interactive Brokers, which allows him to invest in securities from different exchanges all over the world, at very low commission rates, without custodian fees, near spot currency rates.
You can read more about Kyith here.