HGSI Doc Top Down Review 5.19.2019
Greetings and Welcome to This Week’s Top Down Review
Once again we had a news driven market that actually got back close to Monday’s open before a late afternoon tweet-driven-sell-off led to sharp declines on Friday.
It is May and perhaps that alone may be a reason to sell. We have had Double Tops on ES and NQ and now the battle appears to be whether or not we can fight back to new highs or do we break down below the 200 Day SMA for something else.
As much as I am ready to go all in short on this market I also realize that if Trump tweets he had a good call with China then the market can go up just as fast as it dropped.
The nice thing about Technical Analysis, most of these issues are built into the charts already. So let take a look.
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Dr. Jeffrey Scott is a private investor and educational affiliate for HGSI Investment Software LLC