Reaccumulation or bear?

5 de jun. de 2021

Hi guys, here is another observation I’d like to share with y’all. Those bearish Heikin Ashi candles look pretty decisive although this week isn’t over yet. Large bodies with no upper wicks indicate a strong downward momentum to me. CMI started diverging weeks before the top at 65k and TSI has had a cross down in the week of March 22. Also, every crossover of 21EMA and 50SMA has marked the beginning of a bear market. As soon as the low of a weekly candle had touched 50 SMA it was over for the bulls. Back in 2013 we came close, but it didn’t happen. What will it be this time around? The market could simply trade sideways consolidate and gain momentum for another leg up, or it could be a hungry grizzly bear just waking up as we speak :))
Please, share your thoughts on this one.
Have a great weekend!