Hello traders and investors! Let’s see how the SPX is doing today!
Since the last time it hit the 21 ema, it seems we had another DCB and the index is again at its support level. Yesterday’s volume was quite high, and if it loses the 4,167 today, the next target will be the next support at 4,056.
So far, the trend is bearish, and there’s nothing indicating it’ll recover from here. Let’s take a look at the 1h chart for more clues:
In the 1h chart the index looks oversold, and we have two open gaps to fill. The Breakaway Gap at 4,472 would be a clear target, but we must see a clear bullish structure first, and so far, there’s nothing bullish on it.
If the index holds at the red line at 4,161 it’ll be a good sign, but in my view, we must see more patterns in order to call it a buy again. I’ll keep you guys updated every day on this, so remember to follow me to keep in touch with my daily updates.
Since the last time it hit the 21 ema, it seems we had another DCB and the index is again at its support level. Yesterday’s volume was quite high, and if it loses the 4,167 today, the next target will be the next support at 4,056.
So far, the trend is bearish, and there’s nothing indicating it’ll recover from here. Let’s take a look at the 1h chart for more clues:
In the 1h chart the index looks oversold, and we have two open gaps to fill. The Breakaway Gap at 4,472 would be a clear target, but we must see a clear bullish structure first, and so far, there’s nothing bullish on it.
If the index holds at the red line at 4,161 it’ll be a good sign, but in my view, we must see more patterns in order to call it a buy again. I’ll keep you guys updated every day on this, so remember to follow me to keep in touch with my daily updates.
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👉 Join the 5%: thefinancehydra.com/
💲💲 Project 5%: + 104%
🔹 S&P500: +35%
💪 Public track record.
