SPX: A Pullback in a Bull Trend.
• The SPX is correcting today, however, it is still above the 4,100, indicating some strength;
• If the index drops more, and loses yesterday’s low, we might see a sharper correction. Probably the SPX would lose the 21 ema in this scenario;
• For now, it seems the bulls are in control, despite the pullback. As long as the index remains above the 4,100 / 21 ema, the gap at 4,218 is still our target;
• The index is correcting, but there’s no clear bearish reversal structure on it yet pointing to a real reversal. I’ll keep you updated on this.
Remember to follow me to keep in touch with my daily analyses!
• If the index drops more, and loses yesterday’s low, we might see a sharper correction. Probably the SPX would lose the 21 ema in this scenario;
• For now, it seems the bulls are in control, despite the pullback. As long as the index remains above the 4,100 / 21 ema, the gap at 4,218 is still our target;
• The index is correcting, but there’s no clear bearish reversal structure on it yet pointing to a real reversal. I’ll keep you updated on this.
Remember to follow me to keep in touch with my daily analyses!
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