- SPX is still managing to hold below its bearish H + S pattern's neckline support
- End of last week closed on the 2630 level
- This level is acting as VERY STRONG support, with 3-4 bounces/pin-bars off this level in the past 1/2 weeks
- We would need to see a break through this level to confirm further bearish action going into this week
- If we fail to break this level we could see the H + S pattern invalidated if we were to move back above
its neckline resistance (BLUE LINE)
** Wait and see what happens around this level going into this week to justify entering a long/short position
THIS IS NOT TRADE ADVICE NOR A TRADE CALL
- End of last week closed on the 2630 level
- This level is acting as VERY STRONG support, with 3-4 bounces/pin-bars off this level in the past 1/2 weeks
- We would need to see a break through this level to confirm further bearish action going into this week
- If we fail to break this level we could see the H + S pattern invalidated if we were to move back above
its neckline resistance (BLUE LINE)
** Wait and see what happens around this level going into this week to justify entering a long/short position
THIS IS NOT TRADE ADVICE NOR A TRADE CALL