First of all, the market continues the pattern in this rally: no continuous three down days in a row and big rallies after the correction. so let’s see what will happen tomorrow. If it takes out yesterday’s low, then it seems the intermediate top is in already.
in the daily charts below, it seems that index is put to a small corner again and we have to choose the directions very soon. Triple negative divergence on RSI and STO plus the overbought. this rally is due for a pullback.
On the weekly chart, it’s still not very overbought yet and we still have some room to go. you can see the corner we are in more clearly in the weekly basis.
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