[Watch it] S&P500 posed to bounce towards 4000 again.
Provided key support close to the 3800 (trendline, FIB) area holds, SPX may bounce once more nont far off the 4000 mark within few days.
We have bullish divergences on RSI on LTF, but still lack confirmations from MACD and RSI on D, so watch it.
Mind the descending broadening wedge (dashed black lines) encompassing this scenario.
We have bullish divergences on RSI on LTF, but still lack confirmations from MACD and RSI on D, so watch it.
Mind the descending broadening wedge (dashed black lines) encompassing this scenario.
Comment:
Whatever, that's a PRETTY interesting candle.
A TD 9 gap-down pretty hammerish candle ...
TD 9 candles setting a low of a serie on D are pretty rare on SPX.
They're about 20 in 20 years and usually sit decently close to a local low.
Hence 2/3 of these were followed by a 8-20% bounce within 2-4 weeks.
Ok, enough for now.
Looking forward to monday.
A TD 9 gap-down pretty hammerish candle ...
TD 9 candles setting a low of a serie on D are pretty rare on SPX.
They're about 20 in 20 years and usually sit decently close to a local low.
Hence 2/3 of these were followed by a 8-20% bounce within 2-4 weeks.
Ok, enough for now.
Looking forward to monday.
Comment:
We're indeed at about 4000, but despite no signal given this whole idea technically *failed*
I'll try doing better next time.
Closing.
I'll try doing better next time.
Closing.
Yet prone to bounce due to overextension.