hello @slick @Zior and others
apart from being a bit "overheated" (high RSI etc) and some divergence to the downside (CCI for example)... is there any technical reason to believe that the SP will find its way back into some support zone somewhere?
Would you say, the 19c zone where we last consolidated for a couple of weeks in April is possible?
Also, what does a flood of volume like we have had, mean from a TA perspective? Large price movements represent disagreement in price... Eventually price will land somewhere...
It has been overheated for some time and the divergence been forming for some time as well... SP still running with abandon in spite of these things?
Can sense be made of charts like this or is it best to sit back, watch the market exuberance and stick to trade plan...
IMUGENE CHART. TA only, page-1236
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