SPX: Poised to Reverse the Long-Term Bear Trend.
• The SPX broke the key resistance we mentioned yesterday, the 4,100, indicating a continuation of the bull trend (the link to my previous analysis is below this post, as usual);
• What’s more, if the index remains above the 4,100 in the weekly chart, it would trigger the first bullish pivot point since the beginning of the bear market;
• Since the index broke a key resistance, and so far, it is not doing any bearish sign, the next technical target is the gap at 4,218;
• If the index does a clear bearish structure, closing under the 4,100 again, then this might be a top sign, however, there’s no evidence pointing to that direction yet;
• The trend is still bullish in the short/mid-term. I’ll keep you updated on this, as usual.
Remember to follow me to keep in touch with my daily analyses!
• What’s more, if the index remains above the 4,100 in the weekly chart, it would trigger the first bullish pivot point since the beginning of the bear market;
• Since the index broke a key resistance, and so far, it is not doing any bearish sign, the next technical target is the gap at 4,218;
• If the index does a clear bearish structure, closing under the 4,100 again, then this might be a top sign, however, there’s no evidence pointing to that direction yet;
• The trend is still bullish in the short/mid-term. I’ll keep you updated on this, as usual.
Remember to follow me to keep in touch with my daily analyses!
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