The similarities between the 2 leg ups are obvious and in a way funny.
If we look at the average move we can see how unrealistic this move is.
I am calling out a false breakout a bit early (I could be wrong). I am getting more confident on the downward move next week.
I am not against bullish moves but the current political, and Economic environment is NOT at all conducive to such a huge move.
Do I think there may be more upside to the current trend- Probably Yes.
Do I think SPX will make a new ATH- No.
I would like to reiterate what I mentioned in my last post. Trading at the resistance and support levels doubles your risk. wait for some sort of confirmation before placing a trade.
Thank you for reading.
Feel Free to comment your opinions.
**Just an Opinion.
If we look at the average move we can see how unrealistic this move is.
I am calling out a false breakout a bit early (I could be wrong). I am getting more confident on the downward move next week.
I am not against bullish moves but the current political, and Economic environment is NOT at all conducive to such a huge move.
Do I think there may be more upside to the current trend- Probably Yes.
Do I think SPX will make a new ATH- No.
I would like to reiterate what I mentioned in my last post. Trading at the resistance and support levels doubles your risk. wait for some sort of confirmation before placing a trade.
Thank you for reading.
Feel Free to comment your opinions.
**Just an Opinion.
Nota
we saw the formation of a long upper wick on the daily candle. A reversal tomorrow seems probableNota
Important Technical Update:The MACD crossed over below the zero line and looking at the past data such a crossover is accompanied by an average gain of 200 poins on the SPX index.
Keep this in consideration before taking your trades.
It may be a false signal as we are about a see a bearish crossover on smaller time frames (1h and below).
it's good to be informed either way.
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Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.