DOW30 Losing momentum at fresh highs
US stocks are getting more volatile in recent session as democrats race to find a compromise on the spending and infrastructure bills and Q3 earning are very mixed with huge selloffs in Facebook, twitter whilst Tesla surged on earlier in week.
The chart pattern is concerning for bulls as we failed to push on after breaking fresh all time highs earlier in week and have just put in a lower high yesterday.
Selling into any trend is dangerous but when we do the risk reward mush be good and here the great thing is we can put stops just above yesterday 35700 or all time highs 35800 and then the downside is very open for a retest of the 200 DMA which has held for months currently at 34250.
The chart pattern is concerning for bulls as we failed to push on after breaking fresh all time highs earlier in week and have just put in a lower high yesterday.
Selling into any trend is dangerous but when we do the risk reward mush be good and here the great thing is we can put stops just above yesterday 35700 or all time highs 35800 and then the downside is very open for a retest of the 200 DMA which has held for months currently at 34250.
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