Weekly Review. April Close.
2.5 month rectangle consolidation.
Salvaged weekly bearish engulfing candle.(Daily bearish in place-27/4)
Rescued 50 Daily sma.
Broke daily uptrend_line(for monthly Close April), on
increased volume. 30% above 65-day average(3rd
highest of year), signaling distribution. (bearish)
Remains in consolidation.
Breaking the 2040 level, targets potential 1970.
3 month Volatility Index relative to the S&P 500
Volatility Index (VXV/VIX ratio) remains at high levels,
since February highs. Current levels indicate struggling
progress. (bearish)
The 5 day CBOE total put/call ratio is relatively low
This suggests that the volume of puts (bearish bets)
relative to the volume of calls (bullish bets) is pretty low,
(bearish).
Weekly Momentum is losing steam. (bearish)
2.5 month rectangle consolidation.
Salvaged weekly bearish engulfing candle.(Daily bearish in place-27/4)
Rescued 50 Daily sma.
Broke daily uptrend_line(for monthly Close April), on
increased volume. 30% above 65-day average(3rd
highest of year), signaling distribution. (bearish)
Remains in consolidation.
Breaking the 2040 level, targets potential 1970.
3 month Volatility Index relative to the S&P 500
Volatility Index (VXV/VIX ratio) remains at high levels,
since February highs. Current levels indicate struggling
progress. (bearish)
The 5 day CBOE total put/call ratio is relatively low
This suggests that the volume of puts (bearish bets)
relative to the volume of calls (bullish bets) is pretty low,
(bearish).
Weekly Momentum is losing steam. (bearish)