SPX - A little frustrating?
SPX is rambling on now. That’s ok, let it take its time, but this candle today is a little annoying, truth should be told. I’m still waiting for a clearer bullish sign here, and I hope it will happen soon. The best places for a bullish pattern appear would be at the orange line (previous top), or at the 21 ema.
Yesterday, the bulls showed strength to us, but now they got dominated. As I said, maybe the SPX are going to ramble on and instead of a price correction, it may do a time correction, before it does anything.
In a perfect world it would drop to the orange line, then I maintain my two possible scenarios:
Scenario 1: It goes to the orange line (previous top region) and does a bullish pattern . Then it might have the strength to break the blue line and seek the green line, or even close the green gap (but I think this is too optimistic).
Scenario 2: It goes straight down or starts doing lower tops and bottoms. Then I would think the bulls are losing strength and SPX could break down the pink line and seek at least the red line.
But we must be patient now, because only time will tell what SPX will going to do.
Yesterday, the bulls showed strength to us, but now they got dominated. As I said, maybe the SPX are going to ramble on and instead of a price correction, it may do a time correction, before it does anything.
In a perfect world it would drop to the orange line, then I maintain my two possible scenarios:
Scenario 1: It goes to the orange line (previous top region) and does a bullish pattern . Then it might have the strength to break the blue line and seek the green line, or even close the green gap (but I think this is too optimistic).
Scenario 2: It goes straight down or starts doing lower tops and bottoms. Then I would think the bulls are losing strength and SPX could break down the pink line and seek at least the red line.
But we must be patient now, because only time will tell what SPX will going to do.
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