SPX needs to close above $6,700 next month to be bullish.
The 3 month on a breakout indicator is doing a higher low which signals a market reversal. The Red line on the Breakout indicator is a simulation if SPX will close above $6700. Usually, the market tops at the red step average, if SPX can close above that, it will be a massive move to the upside, if it touches it or barely touches it, it might be on a reversal. The support is the Step Average Blue line but im looking for it to go easily on the Green Step Average line.
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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.