SPX: Is the bear market over already?
Hello traders and investors! Let’s look at how the SPX is doing today!
It is a green Monday, and the entire world is going up. This happens very often, after a systemic drop. Today’s reaction is impressive, indeed, and it looks like the reaction seen on last Thursday.
It looks like the SPX is trying to fill one of its Gaps now, and it is quite close to fill it, but the index is still doing lower highs and lower lows, a trait of a bearish trend. Only when it starts doing higher highs and higher lows, I’ll see the situation differently.
Now, to the daily chart:
We have what looks like a candlestick pattern called Downside Tasuki Gap, which is a bullish pattern, and it’ll be hard for the bears to cancel it, as the index must drop again below today’s low.
The volume increased during this sell-off, as for the volatility, and this is one of the reasons why we still must be careful. In moments like this, there are few stocks we can trade.
The Bearish Engulfing in the weekly chart we discussed in my last analysis wasn’t triggered today, but there is still the possibility that it’ll. If you missed my previous analysis, just check the link below.
If you liked this analysis, remember to follow me to keep in touch with my daily updates, and please, support this idea before you leave!
Thank you very much. Have a great week!
It is a green Monday, and the entire world is going up. This happens very often, after a systemic drop. Today’s reaction is impressive, indeed, and it looks like the reaction seen on last Thursday.
It looks like the SPX is trying to fill one of its Gaps now, and it is quite close to fill it, but the index is still doing lower highs and lower lows, a trait of a bearish trend. Only when it starts doing higher highs and higher lows, I’ll see the situation differently.
Now, to the daily chart:
We have what looks like a candlestick pattern called Downside Tasuki Gap, which is a bullish pattern, and it’ll be hard for the bears to cancel it, as the index must drop again below today’s low.
The volume increased during this sell-off, as for the volatility, and this is one of the reasons why we still must be careful. In moments like this, there are few stocks we can trade.
The Bearish Engulfing in the weekly chart we discussed in my last analysis wasn’t triggered today, but there is still the possibility that it’ll. If you missed my previous analysis, just check the link below.
If you liked this analysis, remember to follow me to keep in touch with my daily updates, and please, support this idea before you leave!
Thank you very much. Have a great week!
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