What John Howell said in this video:
- DIAbearishshort-termThe Dow Jones (DIA) has formed a reversal candlestick and is in a downward phase; after rejecting the trend line it has given an early warning of more downside, with a short-term bearish outlook.Source
- IWMbearishRussell 2000 (IWM) is continuing sharply lower; after breaking the neckline of a double top, the projected target points to more downside.Source
- Market Breadthnegative for stocksThe market is showing a warning sign: the Russell and Dow are falling while the S&P and Nasdaq are still rising, indicating worsening breadth and an overall correction looks imminent.Source
- SPYbearishThe S&P 500 (SPY) is still pushing higher and at resistance, but once it breaks below the current level it is likely to see a big correction, following the Dow and Russell.Source
- QQQbearishThe Nasdaq (QQQ) broke out and then came back down, forming a potential false breakout pattern, so more downside is expected.Source