SSECI is looking toppish. From the chart below, we can see that in the past 2 corrections (in February & June), the MACD indicator had exhibited the bearish crossunder (in pink), then followed by the the 10-day SMA cutting into the 20-day & 30-day SMA (circled in red). Thereafter, the correction was upon the market.
In the past 2 weeks, SSECI's MACD has already given the selling signal but the market has continued to charge ahead. Nevertheless, we can see that the 10-day SMA is about to cut below the 20-day SMA. A correction of the SSECI is imminent.
Chart: SSECI's daily chart as at September 24 (courtesy of Yahoo Finance)
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