SPX: We nailed the bottom! What's next on it?
• Since the SPX hit our target at 3,911, it did a bottom sign, indicating that it wants to resume the bull trend (link to my previous analysis below this post);
• In the daily chart, there are two gaps, one above the price, and other beneath it;
• Since the index is doing a bottom, in theory, it would keep climbing until it fills the gap above 4k;
• For the index to fill the gap around 3,800 we must see it frustrating this bottom sign completely, by losing again the 3,911, our main key point;
• Tradingview’s data is very inaccurate today. Usually, there are minor differences between the opening price in the daily time-frame and the 1st hourly candlestick. However, this time, the difference was so huge that the shape of the candlestick in the daily chart and in the 1h chart (while trading in the 1st hour) was widely different – they were supposed to be equal. This is quite problematic, since it is a platform that focus on charts and I would like to know why this happens;
• Either way, I’ll keep you updated on this. For now, let’s pay attention to the gaps and to the line at 3,911, our key support.
Remember to follow me to keep in touch with my analyses!
• In the daily chart, there are two gaps, one above the price, and other beneath it;
• Since the index is doing a bottom, in theory, it would keep climbing until it fills the gap above 4k;
• For the index to fill the gap around 3,800 we must see it frustrating this bottom sign completely, by losing again the 3,911, our main key point;
• Tradingview’s data is very inaccurate today. Usually, there are minor differences between the opening price in the daily time-frame and the 1st hourly candlestick. However, this time, the difference was so huge that the shape of the candlestick in the daily chart and in the 1h chart (while trading in the 1st hour) was widely different – they were supposed to be equal. This is quite problematic, since it is a platform that focus on charts and I would like to know why this happens;
• Either way, I’ll keep you updated on this. For now, let’s pay attention to the gaps and to the line at 3,911, our key support.
Remember to follow me to keep in touch with my analyses!
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