On the weekly chart notice that prices are in a clear pattern of lower lows and lower highs. This indicates we're in a bear market. Also note:
-- Prices are below all the weekly SMAs
-- The shorter SMAs are below the longer SMAs
-- All the SMAs are moving lower
This is as bearish as you can get.
On the daily chart, notice the following:
-- Prices are below all the SMAa
-- The shorter SMAs are below the longer SMAs
-- All the SMAs are moving lower
Both charts are extremely bearish.
