The US stock market recovery was certainly too extensive which is well reflected on the chart as the market started to reverse.
The trigger came from a sudden jump in the number of new COVID cases in the US but the market rebounded and climbed as the number of new cases did not continue to rise.
However, the market was seen falling again after continuously resisted at the bottom of a broken rising wedge and most importantly, new COVID cases rose to more than one-month high.
The most recent number shows that new COVID cases rose to more than 30,000 and has been rising for 5 consecutive days.
If nothing else goes wrong, we should see a significant gap down once the market is opened for the week and panic arises from this incident will most definitely sustain for quite a while thus the opportunity to continue to sell.
The trigger came from a sudden jump in the number of new COVID cases in the US but the market rebounded and climbed as the number of new cases did not continue to rise.
However, the market was seen falling again after continuously resisted at the bottom of a broken rising wedge and most importantly, new COVID cases rose to more than one-month high.
The most recent number shows that new COVID cases rose to more than 30,000 and has been rising for 5 consecutive days.
If nothing else goes wrong, we should see a significant gap down once the market is opened for the week and panic arises from this incident will most definitely sustain for quite a while thus the opportunity to continue to sell.
