A broad sell off across the globe started on the 281020.
This sell off spark the SPX to break its Supertrend line at 3333 opening the door to its weekly Kijun support at 3176.
The short signal was issued 2 weeks back on the 4hr chart at 3482 on 151020.
On a birds eye view, the MT and LT outlook of the SPX is still uptrend.
This move towards 3176 is ST in nature and corrective. 10% corrections are normal in the course of market lifespans.
A break above 3389 will resume ST uptrend.
This sell off spark the SPX to break its Supertrend line at 3333 opening the door to its weekly Kijun support at 3176.
The short signal was issued 2 weeks back on the 4hr chart at 3482 on 151020.
On a birds eye view, the MT and LT outlook of the SPX is still uptrend.
This move towards 3176 is ST in nature and corrective. 10% corrections are normal in the course of market lifespans.
A break above 3389 will resume ST uptrend.
Quant Strategic Singapore