I saw some comments throughout the online financial media stating that the bear market has probably made a swing high this week and that we should look for new lows from here. I do not agree. There is no intermediate term indication of an oversold market.
Here is one indicator, the cpc 5 day ema, which is still depressed. It will have to reach close to the upper horizontal line before a top is made.
Until then, deeper pull-backs lasting a few days are buying opportunities.
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