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The hourly MACD is now overbought with sharp bearish divergence suggesting that the market is likely to experience somewhat of a pullback, though the odds look favorable for at least some continuation of the rally afterwards.
Given the large gap down from the day after the election is not yet filled, it may be ideal for the market to push somewhat higher today to fill that gap before experiencing a multi day correction. Then I think it would be ideal for a pullback to below Wednesday's low before a possible further move upwards.
The market has gotten ahead of itself.
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