Weekly charts for key equity indices remain bearish and will eventually overpower the daily charts which have been attempting to form a base and rally.
Due to this protracted basing I was expecting a spike upwards followed by resumption of the downtrend.
However due to the increasingly bearish influence of the weekly and monthly trends the bullish spike may not eventuate in which case daily charts will break down sooner.
Due to this protracted basing I was expecting a spike upwards followed by resumption of the downtrend.
However due to the increasingly bearish influence of the weekly and monthly trends the bullish spike may not eventuate in which case daily charts will break down sooner.