Stock indexes fell this week after hitting target prices and making new all time highs consistently the past several weeks. They have formed and hit short term vM target prices. If they break the weeks lows, expecting further selling. See if oil can retake $50.
The S&P reversed after hitting vW to 2478 and making new all time highs. Has hit a vM at 2434. See if can bounce from here and form a new bullish pattern. Otherwise expecting further selling towards 2415-2400.
Nasdaq also fell after making new all time highs. vM towards 5703.75 is triggered inside a larger vW to 6076.5 which is also triggered, however price is close to testing its neckline and will be un-triggered if vM to 5703.75 hits.
The Russell reversed after hitting vW to 1441, forming a small vM to 1351.3
It still has a larger vW to 1597 that is triggered.
The Dow reversed after making new all time highs and hitting a long term double bottom target price from the '08 crash at 22074. It has formed and hit a vM 21844, but has yet to bounce. It has also triggered vM to 21643
Dow weekly chart
The XLF hit vW to 25.11 and nulled a short term vM lower. Has formed a vM to 24.46 that is triggered.
Oil has been grinding higher. Needs to retake and hold $50 to avoid further selling towards sub $40.
Above $55 will trigger vW to $73.78
The IBB still has vW's higher that are triggered. Has formed and triggered a vM to 294.00
