📈 Time to Buy

Is the selling exhausted?

Index Overview

This is going to be a pivotal week for the market - we will see how we act this week and whether we continue to form a bottom or take out new lows.

I wanted to review the S&P to give some indications of where we might be going.

You can see that we formed a doji on Friday just below the 12 SMA. This is something you’re going to need to watch. We really want to get over the 12 SMA which will mean that we can continue to push higher.

Also, keep an eye on volume. You can see that we had significant selling last week, and if you zoom out, these levels of selling are typically exhaustive and mark bottoms.

You can see wherever selling gets up to that line, it usually marks a bottom.

Finally, viewers know I love using the Ichimoku Cloud. We are in the cloud right now. We want to see us push through it and stay above the cloud.

These are some of the key things I would be watching on the indexes this week. I share the others that I am watching here: