• The SPX lost our key support at 3,911, a sign of weakness, and this indicates more correction;
• Now the index is finally doing a lower low, while it is below the 21 ema – a trait of a bear trend;
• In this scenario, the next stop is the 3,818, to fill the last gap (yellow square);
• In addition, the 3,911, our previous support, is supposed to work as a resistance in the future, along with the 21 ema. Any bounce to these resistances should be considered just a bounce, before it resumes the bear trend;
• So far, there’s no technical evidence that the index will bounce or reverse the sentiment, as there’s no bullish pattern/structure around;
• The volume is quite high, indicating that this sell-off is intense, indeed;
• For now, let’s focus on our gap. I’ll keep you updated on this.
Remember to follow me to keep in touch with my daily analyses!
• Now the index is finally doing a lower low, while it is below the 21 ema – a trait of a bear trend;
• In this scenario, the next stop is the 3,818, to fill the last gap (yellow square);
• In addition, the 3,911, our previous support, is supposed to work as a resistance in the future, along with the 21 ema. Any bounce to these resistances should be considered just a bounce, before it resumes the bear trend;
• So far, there’s no technical evidence that the index will bounce or reverse the sentiment, as there’s no bullish pattern/structure around;
• The volume is quite high, indicating that this sell-off is intense, indeed;
• For now, let’s focus on our gap. I’ll keep you updated on this.
Remember to follow me to keep in touch with my daily analyses!
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لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.