Indice S&P 500Short
SPX Weekly Candles Signal a Turn to Bottom of Channel!
The S&P 500 has been in a bullish channel since 2009. The 200 day moving average has stayed within this range. Last week's rejection at the top of the channel paired with a bearish hammer signals a reversal. There is a potential for this to be a bear trap, so keep an eye on weekly closes.
A likely scenario is we revisit the top of the channel around 2840 and get slammed down to the 200 DMA. Re-evaluate your SPX shorts here, (2750). If the 200 DMA breaks down there is a chance we will fall to the bottom of the channel, (2440).
This is still a bullish trend. If we break below this channel the bear market will be confirmed.
This is not financial advice. Do your own research.
-Whistle
A likely scenario is we revisit the top of the channel around 2840 and get slammed down to the 200 DMA. Re-evaluate your SPX shorts here, (2750). If the 200 DMA breaks down there is a chance we will fall to the bottom of the channel, (2440).
This is still a bullish trend. If we break below this channel the bear market will be confirmed.
This is not financial advice. Do your own research.
-Whistle
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.