8/2/23. Finspiration Evening Report.
XJO up modestly today +0.35%.
Despite recent highs, momentum is clearly dropping off for the XJO. This can be seen in the above chart where the XJO is now under the top line of the 1STD Bollinger Bands. That puts it into No Man's Land.
The index still hasn't given a short term "sell" signal, i.e., falling below the 8-Day EMA.
If it falls below the mid-line of the Bollinger Bands (20-Day MA) it might be time to bail out for now. We're not there yet.
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