DOW JONES 13 Sequential, MEME Stocks Exhausted
Chance for a higher low on Dow Jones. Medium term trend is down. Short-term trade down. DeMARK 13 sequential this week was the low which signals trend exhaustion. We closed >3 days prior which means the trade is to try a dip long today / Monday. This works better after confirmation from yesterday.
SPX in a very different state hanging below the TDST level. All short and medium term trends point to down without any exhaustion on the daily charts. Given index dispersion of large cap tech, this would make sense why the broad market is acting like this.
Still seeing an active 240M 9 buy setup on the SPX though. Similar ideas the Dow.
We need to be careful with the DAX at the 20EMA and failing. This is in the the "too hard" camp because we completed hourly DeMARK Exhaustion and flipped higher. Who would dare take a trade in the middle of a coiled up range? Seems dangerous and I am not interested in getting whipsawed.
Meme setups look like they have finally bottomed though. UPST TD Combo 13 + Price Flip. First target back above 100.
Double 9 on AMC coming on Monday
ARKK combo 13 coming on Monday
LMT Long setup along the 50EMA still looks good with the hourly 13's firing off.
Not doing a lot today. Holding China tech trades.
Best of luck.