Weeklies
1/29/18 - Overall: Bearish // ADX: Bearish // Short Averages: Bearish // Oscillators: Bearish // Patterns: Maintaining range breakout.
Dailies
2/2 - Bears remain in control as the drop exceeds key targets from the 2017 peak. ADX is at elevated readings, but prices should continue lower if prices hold below the 6-day average.
2/1 - Holding below the 6-day average is keeping daily trends bearish.
1/31 - Bearish conditions persist with prices holding below key averages.
1/30 - Bears remain in control due to the strong ADX signal and the consistent failures to rise above the 10-day average.
1/29 - The bearish ADX trend reading remains firm while prices hold below the 10-day average after testing it last week.
1/26 - Bears must keep prices below the 10-day average to maintain the bearish ADX trend reading.
1/25 - The bearish ADX trend remains active after prices failed to rise above the 10-day average.
1/24 - The bearish ADX reading is at elevated values, but prices must close above the 10-day average to indicate that an end to the bearish move has occurred.
1/23 - The bearish trend remains firm as prices continue to hold below the 6- day average.
1/22 - Bears remain in control with prices holding below key averages like the 6- and 10-day averages.
1/19 - Bears remain in control with good bearish ADX trends continuing to advance. The upside should be limited by the 6- and 10-day averages.
1/18 - Bearish trends remain active and strong.
1/17 - Bulls have not been able to build on the Candlestick patterns of the last few days while ADX maintains a firm bearish trend reading.
1/16 - Failures to build on new bearish breaks last week hint of weak momentum despite a good bearish trend reading on ADX. Weekly charts could give bears the edge because of longer term momentum.
1/12 - The bearish ADX trend on daily charts remains active although the Candlestick on Wednesday suggests that a bottom could be forming.
1/11 - A bullish Candlestick bottom formed on Wednesday, but the ADX trend reading remains bearish. Bulls can signal a major bottom with a close above the 10-day average.
1/10 - A bearish trend is now indicated by ADX, making additionally lower prices likely if a quick rebound does now occur immediately, which would indicate a falling wedge had been completed.
1/9 - Sellers remain in control of the market with a good trend reading on ADX.
1/8 - Bear trends remain active, although stalls are preventing stronger directional indications from forming.
1/5 - A new bearish trend could be starting if selling continues into the new week.
1/4 - Trends remain neutral on daily charts. Bearish readings on weekly charts suggest limited upside.
1/3 - Bearish weeklies keep the tone weak, but trends on daily charts remain neutral.
1/2 - The rebound last week did not form a bullish trend, but Stochastics suggest a good base below the market.
12/18 - Stalls are preventing the market from forming new trend readings. Weekly conditions remain bearish as prices largely hold below the 40-day average.
12/15 - Trends remain neutral and prices are stalling near the 40-day average.
12/14 - The rally on Wednesday did not start a new trend, but prices are above the 40-day average and ADX is trend ready.
12/13 - Conditions are trendless.
12/12 - Conditions are weak, but trends are flat on dailies charts. Weeklies lean bearishly.
12/11 - Daily conditions are neutral, but weeklies lean bearishly, which should prevent prices from maintaining any probes above the 40-day average.
12/8 - Trends remain neutral as other signals hint of a supportive tone.
12/7 - The market is trendless with mixed signals on oscillators and averages.
12/6 - Trends remain neutral.
12/5 - Trends remain neutral. Other signals are not strong enough to signal that a stronger move lower is underway.
12/4 - Gains on Friday eliminated the bearish trend on daily charts, but the weak week created new bearish readings on weekly charts.
12/1 - A new bearish trend is underway, which needs prices to hold below the 6- and 10-day averages to boost the case for lower prices.
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