Stocks Analysis by Michael Kramer covering: Nasdaq 100, S&P 500, Nasdaq 100 Futures, United States 10-Year. Read Michael Kramer's latest article on Investing.com
Stocks started the day higher, but the market had given back all its gains by the day’s end. From a technical standpoint, it worked out better than I could have imagined.managed to trade right up to the lower trend line in the rising wedge, and that’s where it stopped - a successful retest of the break lower.
That was formed yesterday when the SPX tried to move above the previous intraday highs and then closed lower and below the close on October 14.I currently count four bearish patterns embedded in one chart. If we don’t turn lower here, I am going to start thinking the market is out to get me. Perhaps all the attention on this trade led participants to change their approach, or another factor was at play.
Perhaps there is a growing sense of frustration amongst the “rounders” that the stock can’t clear the $140 level despite TSM’s very “bullish” news on the day.
S&P 500 Nasdaq 100 Futures United States 10-Year
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