Markets broke to the downside this week but buyers stepped up creating a mixed technical picture.
The short term momentum is to the upside but the technical damage has been done. Buyers need to continue to keep control and defend their levels else risk sellers stepping in and selling the pullback and flipping things back to full-time frame alignment to the downside.
Lots of earnings on the tap for the coming week so expect continued volatility.
In this week’s video, we look at the technical outlook for the VXX VX SPY QQQ IWM DIA EEM TSX TLT GLD XAUUSD GDXJ BTCUSD TOTAL UKOIL EEM BABA CZR SMH ON QRVO OIH WLL PVH for the week of August 12 – 16, 2019.
Feel free to drop any questions into the comments and tit the subscribe button to receive notices of our weekly market analysis videos.