Saturday US Indexes Analysis - 2018-02-17
Saturday US Indexes Analysis - Feb 17th, 2018
The strategies discussed below are suitable for swing traders.
In Equilibrium
In my last week analysis here, I wrote "If you are holding some stocks, hang on. It’s not a bear market.", and that exactly what happens during these several days. The price has moved back up after "bouncing" the 200 EMA support.
As you can see, after the sharp "V" movements, all major US indexes are slowing down. Don't expect it to shoot to the sky from here on. I'm predicting that it will make a consolidation / sideway for a little while. The MACD and RSI are showing that the current closing price can be considered as in equilibrium.
The best case scenario here would be that the indexes would move sideway for one or two weeks, while the 200 EMA is trying to catch up with the current price. After that, it could go up with full power.
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