As I stated in last week’s video, “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“.
This past week the bulls were met with a number of bearish macro scenarios and ultimately the bulls lost control and markets buckled due to the intensified selling.
By mid-week sentiment had turned overly negative and compelled me to share the possible reversal, which set up the buying opportunities on Thursday and Friday.
See – Overly negative.
In the short term, the buyers are once again in control. Watch the Weekly Outlook video to see the levels we’ll be watching to see if the rally has legs.
In this week’s video, we look at the technical outlook for the VXX VX! SPY SPX QQQ IWM DIA EEM TSX TLT GLD XAUUSD GDXJ BTCUSD TOTAL UKOIL EEM BABA MJ TLRY CRON AAPL CELG for the week of August 19 – 23, 2019.
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