The behavior of the market movement based on MACD + Stochastic technical indicators signal. All other time frames moving upwards while the hourly time frame MACD still down - the market retrace move above the previous hourly support and turn into resistance. This is a signal of strong bullish ahead although we cannot predict the downfall when the big major correction going to take place.
Current market sentiment is 80% bullish with all MACD + Stochastic in all time frames moving upward directions. It could break the previous resistance level. The market could move forward for many years to come. US might go into recession soon perhaps in a year or two
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