There's not much for the bulls to hang onto today. The bears are growling and seem to be winning the battle. We can see bear flags and/or rising wedges on the daily charts of the major indexes. They didn't do what they needed to do; stay above the 8/21 EMAs. A retest of recent lows looks probable.
June 29, 2022, Mid-Week Market Update
June 29, 2022, Mid-Week Market Update
June 29, 2022, Mid-Week Market Update
There's not much for the bulls to hang onto today. The bears are growling and seem to be winning the battle. We can see bear flags and/or rising wedges on the daily charts of the major indexes. They didn't do what they needed to do; stay above the 8/21 EMAs. A retest of recent lows looks probable.