The Bloom signal currently points bearish, favouring a short-biased (selling) setup. The alignment is loose, so confirm with the morning trend before committing size. PRO tip: the first 15 minutes should trade in the direction of the setup for strong confirmation.
Most time horizons (5-min through weekly) lean bearish. Look for the opening range to confirm before adding full size. Momentum is deeply stretched to the downside. Even in a bearish setup, expect a bounce before further downside. The sector dropped -3.3% this month, reinforcing the bearish setup with broad group weakness. Short-, medium-, and long-term price averages are all pointing down, and every time horizon agrees. This confirms the sell setup. The safety cushion is wide at 27.2%, so the setup has room to breathe. Your stop-loss can be placed at a sensible level without being triggered by normal day-to-day price swings.
