SPX: Hit our TARGET! What's next?
• We nailed another target on SPX, as it did exactly what it had to do, and it hit its 21 ema yesterday, just after I posted my daily analysis;
• Today, it is under the 21 ema, indicating that the sell-off was intense, but we see some reaction;
• While I’m writing this, SPX is trying to do a Hammer/Doji candlestick pattern in the daily chart. The pattern is still forming, and there’s a good chance it won’t close like this, but if it confirms a bullish reaction, it might bounce to its 21 ema again (daily chart);
• The index is trying to stabilize just above the 50% retracement, as seen in the daily chart, and this point might work as a support level for us;
• However, SPX has yet to show more bullish signs in order to truly reverse. For now, I won't set any public target on it, but I’ll keep you guys posted, as usual. Soon we'll have more definition.
Remember to follow me to keep in touch with my analyses!
• Today, it is under the 21 ema, indicating that the sell-off was intense, but we see some reaction;
• While I’m writing this, SPX is trying to do a Hammer/Doji candlestick pattern in the daily chart. The pattern is still forming, and there’s a good chance it won’t close like this, but if it confirms a bullish reaction, it might bounce to its 21 ema again (daily chart);
• The index is trying to stabilize just above the 50% retracement, as seen in the daily chart, and this point might work as a support level for us;
• However, SPX has yet to show more bullish signs in order to truly reverse. For now, I won't set any public target on it, but I’ll keep you guys posted, as usual. Soon we'll have more definition.
Remember to follow me to keep in touch with my 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.