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Friday, April 26, 2024

Trendlines Broken

Technical analysis of the market today, courtesy of Brian at Alpha Trends.

Trendlines Broken

The uptrend lines since this rally began have been broken today, the markets are below the flat/declining 5 DMAs and the VWAP* (purple MA) since the rally began is now coming into play. A bounce from these levels will give good indication as to the conviction of the buyers of the recent rally. Be very defensive.

 

 

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