SPX: After FED - Will it keep correcting?

٢ نوفمبر ٢٠٢٢

• The SPX did a strong reaction after FED, and it is trying to recover from yesterday’s drop;
• In fact, this reaction might frustrate the possibility of a pullback to the 21 ema area, which we already discussed yesterday, but it is too soon to tell, as the index must confirm more bullish signs first;
• In order for the index to truly reverse and seek higher resistances, it has to break the main resistance at 3,911, as this key point is the game changer for the index (mid-term speaking);
• As long as it remains under 3,911, the next stop is the 21 ema area, as we already mentioned. Then we’ll see how to proceed;
• The way it’ll close today will tell a lot about its future reaction. I’ll keep you guys updated on this.


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