After a 6 month hiatus we are back. We don't need to get into the ups/downs of the last few months....we need to start looking ahead. As far as the 3 major indexes go, we are at critical juncture. The three charts below detail where we are (on a monthly basis) and what support to look for in order to have any chance of things getting better.
There is NO reason to go long (unless you are day trading) until we test and move higher. The only positive here is that volume is clearly declining as we get deeper into this steep decline.
(*click on the chart image for a better view)
Trade well,
-Trader D
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