Hello traders and investors! Let’s see how the SPX is doing today!
We see some very interesting movements here right now. In the 1h chart, it is holding around the 4,375 (previous top), which we talked about in my last analysis. This is a nice support level, and this reaction is important because it is trying to create a bullish structure.
This could reverse the trend in the daily chart, but I agree that this won’t be that easy.
This is the 3th time that we are retesting the 21 ema area, and any bearish reaction in the daily chart might trigger a pullback to the 4,365 (to fill the last gap, at least).
Yes, the situation is still delicate, but we have no bearish sign confirmed yet. If it keeps above the 21 ema in the daily and hourly charts, this could be the reversal sign the index needs in order to truly reverse and seek the next resistances in the 1h chart.
The moment is decisive on the SPX, and today’s reaction will give shape the next structure. Let’s keep our eyes open, and if you liked this post, remember to follow me to keep in touch with my daily updates.
Have a good week.
We see some very interesting movements here right now. In the 1h chart, it is holding around the 4,375 (previous top), which we talked about in my last analysis. This is a nice support level, and this reaction is important because it is trying to create a bullish structure.
This could reverse the trend in the daily chart, but I agree that this won’t be that easy.
This is the 3th time that we are retesting the 21 ema area, and any bearish reaction in the daily chart might trigger a pullback to the 4,365 (to fill the last gap, at least).
Yes, the situation is still delicate, but we have no bearish sign confirmed yet. If it keeps above the 21 ema in the daily and hourly charts, this could be the reversal sign the index needs in order to truly reverse and seek the next resistances in the 1h chart.
The moment is decisive on the SPX, and today’s reaction will give shape the next structure. Let’s keep our eyes open, and if you liked this post, remember to follow me to keep in touch with my daily updates.
Have a good week.
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💲💲 Project 5%: + 104%
🔹 S&P500: +35%
💪 Public track record.
