SPX update - watch for a weak bounce

I think the downtrend is done for a while regardless of how this closes today. The rsi needs to reset and a weak bounce for a few weeks would make sense. 4450 area would be an ideal bounce target, but the RSI will tell us when it's time to short again.

Good luck!

تعليق:

Target area reached (18 ma weekly) overnight. If they can't rally here, then the 18ma will become resistance on the way back up when it happens.

تعليق:

ok so it bounced but it's still in this downward channel. Needs to break out of that.

تعليق:

IWM outperforming. Even if there is one more low I think the bounce comes next week. Similar head and shoulders pattern forming here.

تعليق:

channel test again, nothing has broken out yet. Hard to say how Monday is going to look.

تعليق:

still no break at close