The market still keep one day up , then one day down pattern. Without further catalyst, the market may still keep this pattern. However, today there is certain technical indicator deteriorate further rather than improving.
- The bullish percentage index are slowly moving down still above its own 20 days MA.
- The AAII sentiments (bull-bear) still manage above 0, but with much less value.
- The ROC cross down its own 20 days EMA and slightly below 0.
The negative ROC with negative MACD and PMO together will bother the market's bulls. Unless some of these indicators can reverse back up soon, the market indeed is in downward trouble. So the strategy is till short the rip better than buy the dip although 2 approaches are mostly still working in a short while.
For DT, please still use following short term chart as reference.
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