Volatility has been running high this week as the dollar more than anything is playing havoc with the markets. None of this volatility negates the uptrend that we are currently experiencing. Technically, the markets are oversold at present in the short term. Couple of charts below.
The S&P above shows a lot of volatility, but uptrend remains intact.
The TRIN is oversold significantly, and should retrace. Thank you for reading.
Bottom Line: What's moving the market is....
A) US Dollar daily swings.
B) Option expiration week.
C) Subpar corporate earnings releases.
A) US Dollar daily swings.
B) Option expiration week.
C) Subpar corporate earnings releases.
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