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The Dow Jones notch another record high and since the trend is up, we continue to be bullish on all indexes in the longer term. Smaller time frames like the 60 min and 15 min might have corrections here and there but they are all good and gives us traders an opportunity to long and short stocks. Gold and Oil and also silver are in their own 60 min downtrend and we remain bearish on them until the chart tells us so.
Despite the tech selloffs, the Nasdaq Composite is still in a long term uptrend and whatever falls and crashes are just deemed a correction because of the massive support below and also the MAs are generally still up. Therefore, if the QQQ and Nasdaq keep finding support at their rising 50 MA, we have to remain bullish on techs and the stock market as a whole.
Let's take a look at the charts below.
Charts with the Freestockcharts.com label are courtesy of Freestockcharts.com
Charts with the investing.com logo are courtesy of Investing.com powered by Trading View
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Jan 04, 21 11:30 AM
In this week's chart lessons, we will have a look at bitcoin and other charts.
Dec 29, 20 07:47 AM
We should continue to be bullish on the S&P 500 as a weekly bottoming tail forms in this uptrend.
Dec 22, 20 09:27 AM
The SPX is still in a nice bullish uptrend, with it staying above the rising 20 MA and 50 MA.
Dec 15, 20 09:53 AM
December 14 2020 will go down in history as one of those moments where 2 sets of electors emerge for swing states in the US Presidential Election.
Dec 07, 20 10:04 AM
Despite mainstream media reports of a Biden win, Donald Trump is still contesting the election results.
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