SPX: Bullish Rejection Structure.
• The SPX is doing a bearish reversal structure, as it lost our two main support levels: The 21 ema and the 4,060;
• Last Friday it tried to react, as it did a Dragonfly Doji, just above the 21 ema – However, today’s reaction rejects this bullish attempt completely;
• Now it seems the SPX is seeking the next support, at 4,015;
• Since the index lost the 21 ema, and it did a lower high/low, the mid-term bias is bearish again. Only a very good bullish pattern, followed by a bullish reversal structure would put an end to this bearish sentiment;
• So far, there’s no such sign, but let’s keep our eyes open around the 4,015 area. I’ll keep you updated on this.
Remember to follow me to keep in touch with my daily analyses!
• Last Friday it tried to react, as it did a Dragonfly Doji, just above the 21 ema – However, today’s reaction rejects this bullish attempt completely;
• Now it seems the SPX is seeking the next support, at 4,015;
• Since the index lost the 21 ema, and it did a lower high/low, the mid-term bias is bearish again. Only a very good bullish pattern, followed by a bullish reversal structure would put an end to this bearish sentiment;
• So far, there’s no such sign, but let’s keep our eyes open around the 4,015 area. I’ll keep you updated on this.
Remember to follow me to keep in touch with my daily 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.