<Daily analysis 10/9> The early market shows signs of decline! But there's not much to worry about from a medium-term perspective!
[Technical Analysis (Overall rating: 2/5)]
Points
・While there are no clear signs of volatility, the ability to rise above the support line from a medium-term perspective is a positive impression.
・明確な下落トレンド入りするサイン発生。市場序盤で調整による下落が入りそう。
・市場の過熱感・冷え込みもみられず。緩やかな上昇レンジ相場で適度な市場感で推移するのでは？
・市場終盤の売りの出来高が急増した点が気がかり。序盤は売りから始まるか？
☆市場センチメント(3/5)
・Chart patterns
Short-term perspective：市場開始直後で一時下落する。中盤までに一時緑のレジスタンスライン突破できる展開もあり、青のサポートライン形成。
Medium-term perspectiveSteady rise without breaking the yellow support line.
・Moving averages
Short-term perspectiveCandlestick chart supported by the 5-day moving average line showing an upward trend. Golden cross at the 21/50/75-day moving average lines, while a consolidation phase for the 5/21-day moving average lines.
Medium-term perspectiveCandlestick chart supported by the 5-day moving average line showing an upward trend. Concerning the 21-day moving average line, it is able to surpass the neck line of the head and shoulders pattern.
There are no clear signs of fluctuation, but it is a good impression that it can rise above the support line from a medium-term perspective.
☆ Trend (1/5)
- DMI
In the early stages of the market, the distance between PDI/MDI/ADX is narrowing, indicating a gentle upward trend. As the market progresses, it becomes a consolidating development, and towards the end, PDI/ADX crossover in the high range while MDI transitions upward from the low level.
A clear sign of entering a downtrend has appeared. It seems that a decline may occur due to adjustments in the early stages of the market.
☆Volume and overheating (2/5)
・RSI×MACD
RSI remains in the upper 40s in the early stages of the market, but rises to around 60 after crossing the resistance line of the previous day's triangle consolidation. Currently, it settles in the upper 50s. MACD sees a golden cross early in the market. Subsequently, it rises steadily but stagnates in the middle of the market leading to a dead cross. After that, there is no significant decline, leading to a consolidating development. A golden cross is likely to occur in the near future, but there is a possibility of fakeout.
There is no sign of market overheating or cooling off. Will it transition with a moderate market sentiment in a gentle upward trading range?
・Volume Moving Average
At the beginning of the market, the volume suddenly decreases when surpassing the resistance line of the previous day's triangle consolidation. Afterwards, it will move in a low volume situation. Although a golden cross occurs in the short/medium term at the end of the market, the volume of sell increases sharply.
I am concerned about the sudden increase in sell volume at the end of the market. Will it start with sells in the beginning?
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