Stock Market

US Market Overview 16th Aug – Turnaround Tuesday

byHardik Golwala

August 16, 2022

1 minute read

stock market overview

The major indices are overbought levels on the RSI indicator.

SPY, QQQ, DIA, IWM all 4 major indices are 70 RSI level.

2 & 4 hour charts of the same indices ETFs are again flashing overbought sign.

Is it going to be Turnaround Tuesday ? May be possible bell.. Just be cautious that there is still potential for stocks to run higher even further from the current levels. Let’s see what market brings tomorrow!

Author

Hardik Golwala

Hardik is a professional engineer by career and a passionate active trader/investor. He follows the market on a day-to-day basis. Hardik started equity trading 15 years ago and has developed various strategies to trade the options/equities successfully in any type of market. He believes “learning should never end”.