SP500 - It's a buy until it isn't

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This morning the market is showing more strength than I expected yesterday. As far as I can tell it still looks like all pullbacks to the trendline will be bought. I expect the Powell speech to help us sell off to around 4160 on the e-mini futures, but to me it's a buy unless they break below 4140. People are still very bearish and frankly I don't see the market cooperating with bears at this time. Again that low rsi with 4 hour bullish divergence still looks like it was a strong buy at 4110.

٢٦ أغسطس ٢٠٢٢

ملاحظة

ABC looks right here - C should be the dip to buy if this is correct.

٢٦ أغسطس ٢٠٢٢

ملاحظة

at the trendline, could go a wee bit lower first

٢٦ أغسطس ٢٠٢٢

ملاحظة

holding trendline so far, OIL is also at support.

٢٦ أغسطس ٢٠٢٢

ملاحظة

trendline break, they need to get it over 4140 by EOD for it to look like a bear trap. Under 4100 would be a strong case for bears to sell all rips.