• The SPX failed in breaking our target/resistance at 4k. This is a weakness sign, and it is trying to confirm a pullback today;
• As I mentioned yesterday, in my previous public analysis (link below this post, as usual), a correction to the 21 ema in the daily chart is acceptable, but it must not drop too much below this point, otherwise, it might resume the long-term bear trend;
• In my view, the 3,889 is the key support. If the SPX loses it, then the bear market will resume;
• Meanwhile, the key resistance the SPX has to break in order to reverse the trend is the 4k. Only if the index breaks the 4k we might see something new;
• Now it seems the index is in a no man’s land again. Let’s keep these key points in mind. I’ll keep you updated on this, as usual.
Remember to follow me to keep in touch with my daily analyses!
• As I mentioned yesterday, in my previous public analysis (link below this post, as usual), a correction to the 21 ema in the daily chart is acceptable, but it must not drop too much below this point, otherwise, it might resume the long-term bear trend;
• In my view, the 3,889 is the key support. If the SPX loses it, then the bear market will resume;
• Meanwhile, the key resistance the SPX has to break in order to reverse the trend is the 4k. Only if the index breaks the 4k we might see something new;
• Now it seems the index is in a no man’s land again. Let’s keep these key points in mind. 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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