Adding bearish pressure, the market just put in a 45 bar new low. RSI is in neutral territory. MACD is in bearish territory, but has not issued a signal here. MACD is in bearish territory. Further, the market just put in a 45 bar new low here.
More lows are possible here.
The current new low is not accompanied by increasing volume, suggesting that the current move lacks broad participation. Look for a rebound soon. The short term market trend, based on a 5 bar moving average, is DOWN.The current new low is not accompanied by increasing volume, suggesting that the current move lacks broad participation. Look for a rebound soon. Don't be fooled looking for a bottom here because of this indicator.