On daily time frames markets had an excellent last week, but the large white candlestick on the weekly time frame after weeks of bearish red ones is not typically bullish or one that typically marks a bottom. Having said that, there is room for bulls to work with, and even if markets shift sideways from here I would still look at this as a positive.). Last week, I noted the June low support test and was of the opinion that it wouldn't hold.
With that done, we are now looking at a probable test of the 200-day MA; to add to this, the 200-day MA will soon be subject to a bearish"Death Cross" relative to the 50-day MA - a long-term bearish factor. These are weekly time frame tests and whether upcoming tests are successful or not will be determined on this time frame.was an interesting case.
Last week, the market reached overbought levels and was due for a pullback. Below is the same chart that I presented in that update. I stated that the market was advancing within...Here is your Pro Recap of the top takeaways from Wall Street analysts for the past week: upgrades for Saia, JD.com, Amgen, and Confluent, and a downgrade for Lyft. InvestingPro...Powell’s IMF speech, U.S. jobless claims, and more earnings will be in focus this week. Uber shares are a buy with upbeat earnings on deck.
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