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S&P 500 Index
Short

SPX Rejection of 0.382 Fib and Bear Flag Forming

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SPX has rejected the 0.382 fib level from our Jan 4 high to our Jan 24 low. This often signifies a failed reversal attempt and buyer exhaustion, thus forming a higher low within the current downward trend.

SPX also appears to be forming a bear flag, further strengthening the downtrend thesis.

Stay frosty out there.

snapshot
RocketTraveler
Chart PatternsSPX (S&P 500 Index)S&P 500 (SPX500)SPDR S&P 500 ETF (SPY) Trend Analysis

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.
Chart PatternsSPX (S&P 500 Index)S&P 500 (SPX500)SPDR S&P 500 ETF (SPY) Trend Analysis
RocketTraveler

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.