Both indexes are losing momentum on upside. They follow each other exactly. DOW's R point on a daily close is 13.280. Tuesday close was at 13.164.9 and the 2 hour trend is now sideways . Last trading was 13.137.
SP500 main R point on daily close is 1.405.81. Tuesdays close came in at 1.400.44. Main trends are up but the important 2 hour trend is sideways now trading at 1.397.
A correction must come soon. The indexes are very overbought and a drop could happen fast. The main uptrend will probably not change yet even if a drop occur. It is very difficult to predict the short term trend right now so I prefer to write about the main situation by day until something important happens to the strong uptrend's.
SP500 main R point on daily close is 1.405.81. Tuesdays close came in at 1.400.44. Main trends are up but the important 2 hour trend is sideways now trading at 1.397.
A correction must come soon. The indexes are very overbought and a drop could happen fast. The main uptrend will probably not change yet even if a drop occur. It is very difficult to predict the short term trend right now so I prefer to write about the main situation by day until something important happens to the strong uptrend's.
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