downtrend

However, the outlook for the energy sector depends on oil prices, which have been in a downtrend but on the verge of testing support at the $60–$62 zone.

Also, exceptions to the downtrend for Big Tech, Nvidia’s support for another leg up for AI and the case for taking a bus instead of flying.

Moreover the downtrend in the yen that began in April has begun to accelerate of late.

Technical analysis of the stock shows it breaking above a bearish descending triangle pivot near $86, or a formation that points to a likely continuation of a downtrend.

Craig Johnson, chief market technician at Piper Sandler, said that several breadth measures he uses show that the majority of U.S.-listed stocks priced above $2 a share and with a market capitalization of at least $25 million were in a downtrend.