TechFlow, November 10 — Matrixport released a chart today stating, "From a technical perspective, the current pullback is approaching a value zone. The RSI recently dropped to 35; historically, technical buying tends to become active around this level, though sustained recovery awaits macro-level catalysts for confirmation. Short-term catalysts include the potential resolution of the U.S. government shutdown this week, and Trump's suggestion of distributing around $2,000 'stimulus checks' to the public, evoking memories of the retail-driven rally driven by such checks during 2020–2021."
Overall, given the recent net outflows from ETFs and institutions adopting a wait-and-see stance, any rebound may be limited in strength. The aforementioned catalysts alone are unlikely to drive a sustained reversal; confirmation through coordinated improvements in liquidity and fundamentals remains necessary.
