1. There was a gap down on the daily chart
2. When price retraced back up to the gap, there was a failed swing high.
3. A 2H internal ssl was taken, buyers maybe sitting here, preparing to load the clip and retrace back into the gap above for the second time with more ammo.
4. Because of latest momentum in stock market, this could be a bullish move higher.
5. Tech and semis have been running for weeks. This needs to move down a bit before making a bigger move higher. Will probably do some consolidating.
6. SPX can still remain strong as sectors rotate.
Let’s see what happens
2. When price retraced back up to the gap, there was a failed swing high.
3. A 2H internal ssl was taken, buyers maybe sitting here, preparing to load the clip and retrace back into the gap above for the second time with more ammo.
4. Because of latest momentum in stock market, this could be a bullish move higher.
5. Tech and semis have been running for weeks. This needs to move down a bit before making a bigger move higher. Will probably do some consolidating.
6. SPX can still remain strong as sectors rotate.
Let’s see what happens
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.