SPX: Did what was expected! What's next for the index?
Hello traders and investors! Let’s see how the SPX is doing today!
It did exactly as we already expected in our previous study (link below this analysis, as usual), and now it seems it officially reversed the bearish sentiment for good.
The trend is bullish, as we have higher highs/lows, and pullbacks would be opportunities to buy. The 4,446 is an important support, as if lost, it could do a pullback sharper than expected, maybe to the 21 ema in the daily chart.
Speaking of daily chart:
We don’t see any pullback or reversal sign around, and the index is breaking its resistances quite easily. We are far from the 21 ema in the daily chart, so if we retract, the pullback would be somewhat intense, but nothing that could ruin the bullish bias.
The volume looks ok, and we are in a healthy bull trend. Let’s be aware of more signs.
If you liked this analysis, remember to follow me to keep in touch with my daily updates on stocks and indices.
Have a good day.
It did exactly as we already expected in our previous study (link below this analysis, as usual), and now it seems it officially reversed the bearish sentiment for good.
The trend is bullish, as we have higher highs/lows, and pullbacks would be opportunities to buy. The 4,446 is an important support, as if lost, it could do a pullback sharper than expected, maybe to the 21 ema in the daily chart.
Speaking of daily chart:
We don’t see any pullback or reversal sign around, and the index is breaking its resistances quite easily. We are far from the 21 ema in the daily chart, so if we retract, the pullback would be somewhat intense, but nothing that could ruin the bullish bias.
The volume looks ok, and we are in a healthy bull trend. Let’s be aware of more signs.
If you liked this analysis, remember to follow me to keep in touch with my daily updates on stocks and indices.
Have a good day.
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