ClearValue Team Insights
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IWM Rejected at the Red Zone
IWM faced another rejection in the red zone, and has also opened with a bearish gap lower. I would monitor for a short-term reversal for bulls to make another attempt for a bullish breakout. IWM is seasonally bullish this week and next week, which can provide enough momentum for a successful breakout. ChartChamp socials: https://linktr.ee/realchartchamp
Read MoreS&P and NASDAQ Daily Open with a Bearish Gap
SPY and QQQ had a bearish daily candle open with gap lower. The gap for SPY is a bit hard to see, it looks like a dot on the chart so I added an arrow. SPY is well below the white resistance line, and is struggling to climb up. QQQ is showing relatively more strength […]Read More
ETH Rejected at $3,900
ETH also was rejected at the lower end of the yellow zone around $3,900. The price is still holding up pretty well around $3,800. ETH is currently in a downtrend, and I would monitor for a short-term reversal. I will give an update when ETH reverses (unless I’m sleeping). This week’s monthly candle close will […]Read More