SPX: Persistent Bear Trend.
• SPX is in a bearish trend as it has triggered a bearish pivot point at 4,060, making a lower high/low, and is below the 21 ema;
• Now, the 21 ema and 4,060 are resistance levels. However, talking short term, the 4,015 (red line) is doing a competent job holding the price;
• Therefore, there are many resistance levels on the SPX, and it will not be easy for it to reverse the bearish sentiment;
• If he loses the 3,949 support, the next stop would be the 3,885;
• So far, the index is bearish, and there is no clear bottom signal on it yet. I will keep you updated on this.
Remember to follow me to keep in touch with my daily analysis!
• Now, the 21 ema and 4,060 are resistance levels. However, talking short term, the 4,015 (red line) is doing a competent job holding the price;
• Therefore, there are many resistance levels on the SPX, and it will not be easy for it to reverse the bearish sentiment;
• If he loses the 3,949 support, the next stop would be the 3,885;
• So far, the index is bearish, and there is no clear bottom signal on it yet. I will keep you updated on this.
Remember to follow me to keep in touch with my daily analysis!
⚠️ 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.