Summary
A second consecutive monthly gain, having printed a new hist' high of 7599. Monthly momentum is increasingly positive. A monthly settlement above the key 10MA (6881), as the broader trend is unquestionably bullish.
The upper bollinger stands at 7505, and should adjust to around 7650 as of June 1st. RSI 75s is overbought, but that could remain the case into late summer. 8K looks realistic in August.
For more of the same... https://www.tradingsunset.com
Summary
A massive net monthly gain, having broken a new hist' high of 7219. The April candle is bullish engulfing, suggestive May will see at least some degree of further upside. Monthly momentum has turned back to positive. A monthly settlement above the key 10MA (6757).
--
For more of the same... https://www.tradingsunset.com
Summary
The second consecutive net monthly decline, settling powerfully lower by -5.1%. The first monthly settlement under the key 10MA since last April. Monthly momentum weakened for a fourth month, settling negative for the first time since last May.
With negative monthly momentum, we have a monthly SELL signal.
Natural target is the lower bollinger, currently 5291, if due to adjust upward to the 5300s as of April 1st. There appears 'comfortable' downside to around 5700, which would arguably equate to Dow 40K.
--
For more of the same... https://www.tradingsunset.com
