SPX500 - We're starting Wednesday at strong support

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The horizontal and diagonal support was reached overnight. I expect a bounce here to 4180ish and it could be more pronounced later in the week depending on the market's reaction to Jackson hole. Spy still has a large gap between 417-421 which might get reached this week. I'm still concerned about the mid time-frame rsi (4 hour charts) being so very low, so I'm cautious until this support breaks and is retested, and lost. Good luck!

٢٤ أغسطس ٢٠٢٢

ملاحظة

SPY trendline seems valid, so we have a good sense of where to go short if this breaks down - a big IF in my opinion.

٢٤ أغسطس ٢٠٢٢

ملاحظة

Rejection at upper resistance, now we wait to see who gets over the goal lines

٢٤ أغسطس ٢٠٢٢

ملاحظة

EOD looks like a cup and handle to 4200 for target. Maybe overnight they reach it.