In this market, it’s strong and weak at the same time. It’s definitely strong in that it rose from 83k to 87k on National Day.
It’s also weak in that it can drop from 87k back to 84k in a single day. On top of that, the monthly Bollinger Bands and MA resistance are currently very clear, making it feel like a major correction could happen at any moment.
It feels like the next major move will probably come after the election or following a new major event; otherwise, it’ll be endless hellish chop😂.