Weak Technicals Clouding the Markets

Update on US Markets after Fed announcement:

Weak demand for S&P 500 can been seen on fake break (Upthrust) and as observed in FFI (Fund Flow Index) diverging trend from the index.

Thus, despite last night's late buy up, caution remains on the overall market with close watch on trendline and any incoming market supply.

Dow theory is also displaying weak or bearish technicals. Dow Jones Transportation has broke critical neckline (fell thru the Ice) as Dow Jones Industrial broke its uptrend line.

Upon DJI breaking its neckline, downtrend for US markets will be confirmed.

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1st July 2021, 7.30pm (SG)

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