Get started
marketmind3

SPX - Cautious/Neutral as Rally and support breaks

SPDR S&P 500 ETF TRUST (AMEX:SPY)  
marketmind3  
AMEX:SPY   SPDR S&P 500 ETF TRUST
Trend Analysis Chart Patterns Technical Indicators S&P 500 (SPX500) market swingtrading SPDR S&P 500 ETF (SPY) spx500short spx500long S&P 500 E-Mini Futures ES2!
2
0
trendanalysis chartpattern indicator spx500 market swingtrading spy spx500short spx500long es1! es2!
$SPX has broken rally and first levels of support. After being bullish from May 31 until late July, a few weeks ago I pointed to 2,940 in my weekly-email as a level where I might get more bearish and we're right there now.

We'll see how the market closes, but unless it closes above 3,000 (unlikely) I'll be cautious for a few weeks. Cautious doesn't mean I'm expecting any kind of crash. In fact, I'd expect a grinding pullback or sideways decline, and then a buyable dip.

This week's newsletter will be key: join my free -email newsletter

https://marketmindtrading.com/email/
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.