S&P 500 IndexShort
SPX technical play (very easy)
This week is the Fed speech on Wednesday. I believe that Monday and Tuesday could see 4000 - 4005 before Wednesday gives a little bounce and maybe close out the week positive. People and machines buy corrections but you should not buy this one.
It may generate somewhat of a bullish looking reversal if you monitor this weekly candle for the next few days, but the week after it closes it will end up breaking down and moving to 3870 - 3920 right where the 200-day weekly moving average is.
There is also a Fibonacci level so there are multiple reasons to like 3920 for a price target.
It may generate somewhat of a bullish looking reversal if you monitor this weekly candle for the next few days, but the week after it closes it will end up breaking down and moving to 3870 - 3920 right where the 200-day weekly moving average is.
There is also a Fibonacci level so there are multiple reasons to like 3920 for a price target.
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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.