Textbook Technical Analysis
December 8, 2022
Charts like these don't inspire a great degree of confidence.
I think the most bullish outcome from here is a period of ranging and contracting price action in the indices.
From there, we'd have a little more conviction betting on further upside in equities -- and some mean-reversion plays in the crypto space.
But, until then, this was nothing but a textbook rejection from a perfectly logical place.
Patience.
Let the setups develop.
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Allstarcharts Team