Some interesting things are now happening with the US stock market and the technical analysis charts. The stock market news started a week ago with a trade truce from Trump and Xi that brought a Monday gap up and then that news got sold the rest of the week while the ECB came out to begin a new QE style bond buying program. At the same time the price of gold held its $1280 support level.
But when put in the big context for stock trading the data shows that many people are getting out of individual stocks and buying ETF’s while the stock market rally that began the day after Christmas is exhausted – for now or forever?
New leaders though are emerging and here is what to look for next.
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