RSI peaked and is showing negative divergence.
MACD heading toward a bearish crossover.
Stochastics pointing to a bearish downturn.
Please ping me if you want to be added to the list, but…
NOTE: For discussion purposes only. I am not any sort of financial or investment professional, and I take no responsibility for any actions taken by you, nor does FreeRepublic.com.
“Stochastics pointing to a bearish downturn.”
Agreed. And I’m positioning myself accordingly.
This week has been crazy indeed! But wait! There is more!
In addition to economic data coming out next week, we also have more earnings reports. For instance Berkshire Hathaway’s earnings report is due tomorrow. Then on Tuesday there is Lowe’s and some other retail reporting. That is in addition to some financial institutions such as Royal Bank of Canada on Wednesday. Earnings surprises and “unexpected” economic data can move the market in major ways.
Also, I believe the media is falsely promoting a narrative of a strong U.S. economy. I think they are fudging the numbers and eventually the straw house will start to collapse upon itself. (Just my 2c’s worth and not financial advice)