RCL showing strength while SPX struggles to penetrate June low.
Market overview:
- S&P 500 and Nasdaq composite show signs of struggles to breakout June Lows.
- VIX index is meets a strong resistance at 33-34 level.
RCL:
- Has shown relative strength compared to SPX.
- Failed to go below the cluster level at 43-44.
- RSI has a history of reversing from the current zone.
Timeframe used: 130 minutes
- S&P 500 and Nasdaq composite show signs of struggles to breakout June Lows.
- VIX index is meets a strong resistance at 33-34 level.
RCL:
- Has shown relative strength compared to SPX.
- Failed to go below the cluster level at 43-44.
- RSI has a history of reversing from the current zone.
Timeframe used: 130 minutes