Dashboard USA – JP Morgan Bearish Engulfing

Apple tested the green line but failed to close above, now the bears need to see a follow up to the downside to trigger a new sell < 136.

Amazon formed a Lower High, while most other stocks formed Higher Highs…early warning!

Tesla still on a Sell < 267.

The S&P500, DJI, and Nasdaq all formed a GAP up, followed by a bearish day…no official sell signal yet, but we’re getting close. A close < 2360 for the S&P500 and it’s a new SELL signal.

JP Morgan formed a Bearish Engulfing (Higher Open, Close below the previous open). They say, so as JPM goes, so goes the market….

Conclusion: we’re getting close to new sell signals…not there yet, pattern is still bullish as it forms Higher Highs and Higher Lows…but bulls should be careful as it looks as if bears are ready to take over!

Check out the latest update of the Dashboards here.

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