SPX: Lost a Key Support. What's Next?
• The SPX lost our key support at 4,100, and it did a correction to its next technical support, the 21 ema;
• Now, it seems we have a bullish reaction above the 21 ema, however, this reaction wasn’t that good;
• The bias is still bullish, as the index is still above the 21 ema, but would be important to see a more powerful reaction, preferably, closing above the 4,100 again;
• Only if the index loses its 21 ema we would see a rejection of this bullish bias, and in this scenario, the next support would be the 4,015 (red line);
• For now, let’s pay attention to the 21 ema and to the 4,100 area. I’ll keep you updated on this.
Remember to follow me to keep in touch with my daily analyses!
• Now, it seems we have a bullish reaction above the 21 ema, however, this reaction wasn’t that good;
• The bias is still bullish, as the index is still above the 21 ema, but would be important to see a more powerful reaction, preferably, closing above the 4,100 again;
• Only if the index loses its 21 ema we would see a rejection of this bullish bias, and in this scenario, the next support would be the 4,015 (red line);
• For now, let’s pay attention to the 21 ema and to the 4,100 area. I’ll keep you updated on this.
Remember to follow me to keep in touch with my daily analyses!
⚠️ Want to take your trading to the next level?
👉 Join the Finance Hydra VIP Mentorship - 6 weeks of mentoring with weekly meetings and ongoing support. Limited places available!
✅ Find out more and sign up: thefinancehydra.com/
👉 Join the Finance Hydra VIP Mentorship - 6 weeks of mentoring with weekly meetings and ongoing support. Limited places available!
✅ Find out more and sign up: thefinancehydra.com/
Related publications
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.