On Wednesday May 17, the 3 major stock indexes had a sell off. The big question is how long will it last.
The EFT DIA went down $3.48 that's a significant move considering how high it has gone up since the Trump election.
The TSI (true strength indicator) has crossed on the ETF's DIA, SPY, QQQ, all on the dailys but only DIA is croseed on the weekly SPY looks close . Dia is above the 0 line on the TSI so it's technically in up trend which could mean he selling might not be significant, but only time will tell.
Bitcoin has also crossed on the daily after a long up trend, but I'am not recommending shorting of the coin because if money flees the stock market for safety into bitcoin you can be left being burned fast with its well known volatility.
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I think the Dollar is going up in the next few days and weeks because the DXY will price in the June 14 FOMC meeting.
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If today was a dead cat bounce, that may not happen. Watching Bloomberg right now wanna see how Asia reacts to our action today. I liked the long wick on the daily candle in the SPY. Buyer tried to bring it back up but got rejected in the afternoon session from what I saw.. been in and out of the market today. Son was a little needy.
Trade well!
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Is that the same as trend quality study in TOS?
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