Morning all Mixed signals in my charts Yearly Highs and Lows...

Morning all

Mixed signals in my charts

Yearly Highs and Lows

This ticked up yesterday in contrast to the XJO falling. And it worked in two ways, more yearly highs were created and less yearly lows. All good.
However, lets not get tangled in munutiae, the overall trend of the HiLos is down.

Candles
Just a candle, but we are starting to see some downside tails and while this doesn't define a candle in itself, it sometimes indicates some buying interest at this point in a swing
Average range. volume slightly lower, but as Jako points out, monday volume.

RSI
OS, so can be the beginning of a down trend or an immanemt reversal. It's initial chance at a reversal failed giving a very weak bounce.



Conclusion.
Very few technicals showing upside at the moment.
However, most are at a position where they are susceptible to the upside.
The latest downmove feels less like a swing than it does a short trend ( and I don't want to get too pedantic defining that) and it seems to be a reflection of the up move we had from early october.

As I write the US markets have closed pleasantly green.

BTW:
XEJ had a cracker yesterday. If the West attacks the oil fields which are a large source of finance for  the terrorist state, the oil price might increase. (The terrorist state sells at a significant discount to official prices) . On the other hand, yesterays XEJ move could have just been a knee jerk reaction. Certainly as space to watch.


Yours in the Struggle, MemeFx

@Trees