• We nailed another target on SPX, as it hit our 3,911 today (target set on Nov 07, on a public analysis here on Tradingview – link below this post);
• As we expected, the retracements are doing a great job as support levels, and the 38.2% hold the price yesterday, even in a very volatile day;
• Now, the index reacted, and it just hit a resistance area;
• There’s no top sign on it yet, but if we see one, it could trigger a pullback to the 21 ema again;
• In the lack of a top sign, the next resistance is the red line around 4,116.
• There’s an open gap that would work as a magnet in this scenario, reinforcing the bullish bias;
• These are the scenarios to work with. For now, let’s keep our eyes open around the 3,911.
Remember to follow me to keep in touch with my analyses!
• As we expected, the retracements are doing a great job as support levels, and the 38.2% hold the price yesterday, even in a very volatile day;
• Now, the index reacted, and it just hit a resistance area;
• There’s no top sign on it yet, but if we see one, it could trigger a pullback to the 21 ema again;
• In the lack of a top sign, the next resistance is the red line around 4,116.
• There’s an open gap that would work as a magnet in this scenario, reinforcing the bullish bias;
• These are the scenarios to work with. For now, let’s keep our eyes open around the 3,911.
Remember to follow me to keep in touch with my analyses!
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