Saturday US Stock Analysis - Feb 10th, 2018
The strategies discussed below are suitable for swing traders.
All signs are quite positive
As we can see from the graphs below, all three (3) largest US stock indexes are moving in parallel. All three have touched the 200 EMA support (the red line) and bounced back. The RSIs are also in the overbought area. All MACD signal lines are not fully below zero. All of these indicates that a slowdown or reversal could happen in the near future.
Slowdown is more likely to happen than reversal
However, with strong downward movements we have these past days, it is not healthy for the price to suddenly go up. The worst case scenario would be, we would have another one or several red (down) days where price will close near the 200 EMA support, then it would consolidate gaining power for sometime before moving back up. The best case scenario would be for the price go directly into consolidation gaining power before shoot up again.
Conclusion
If you are holding some stocks, hang on. It’s not a bear market, it’s just a normal correction and may still happen in several days. If you are not into stock, wait a little bit if you can before entering the market, or if you can handle the risk, you could enter the market.
If this blog post has entertained or helped you, please follow, upvote, resteem and/or consider buying me beers :
BTC
ETH
LTC
DOGE
XMR
BTC : 1HqYTjRdZvss32vDrp1T8gRAXTgdqfZ6VS
ETH : 0x1fc22bC528ceE3DaA39555269b70e287dda9aE3E
LTC : LdEiGzjcG36EoZoezDu6rZmdwVcSJHazfr
DOGE : DMYx1w5Sr4uoMnNWymn5nMpCuySSr178TA
XMR : 46QngrRwYgAbQJzW2ZJZ8HEuirkUW2bw84ajWhk73DLG8iT9NqgfzSU4ddRZbeAaLgFeL6gAxzVtGZPHJhFmCDXF3ZEwimT
Congratulations! This post has been upvoted from the communal account, @minnowsupport, by liberviarum from the Minnow Support Project. It's a witness project run by aggroed, ausbitbank, teamsteem, theprophet0, someguy123, neoxian, followbtcnews, and netuoso. The goal is to help Steemit grow by supporting Minnows. Please find us at the Peace, Abundance, and Liberty Network (PALnet) Discord Channel. It's a completely public and open space to all members of the Steemit community who voluntarily choose to be there.
If you would like to delegate to the Minnow Support Project you can do so by clicking on the following links: 50SP, 100SP, 250SP, 500SP, 1000SP, 5000SP.
Be sure to leave at least 50SP undelegated on your account.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit