It was looking ugly for markets in early trading, but buyers stepped in to bid markets up by the close. The tagged support in what offered itself as a buying opportunity, although momentum is not fully oversold, which means a retest of the low (if markets bounce from here) is a strong possibility.
The () successfully tested ’bull flag’ support from within its trading range. Technicals are mixed, but the index continues to outperform peers as of from November. Trading volume was not particulary high, although it was enough to return a ’buy’ trigger for On-Balance-Volume, with technicals in no-mans land.
The had a similar day to the S&P 500, but it’s intraday low was not enough to tag support. This test will likely take another few days to play out.
The one index that is experiencing a technical breakdown is the . Today will offer a ’buying’ opportunity off the inside day, “harami” technical pattern; stops go on a loss of Tuesday’s low.
Finally, is struggling at its 20-day MA. A retest of $65K remains on the cards, although a push above the 20-day MA would likely seal the February reversal as the bottom. The MACD is the only ’buy’ trigger for the asset.
For today, longs can look to the S&P 500, equal-weighted , and possibly Bitcoin for opportunities.
