SPX 500 - is this correction already over?
Updated
Could be. A couple reasons why I think it's possible.
1. We stopped out shorts from yesterday's high and immediately reversed
2. We could not get over 3800 resistance level.
3. Vix still holding up with bullish bias over midline of Bollinger band.
4. put/call ratio still not spiking
5. Hourly rsi bearish divergence already with last high.
Over 3800 tomorrow and it's more bullish for sure, but if we flush overnight and tomorrow, we may be headed to 3500 area by early July.
1. We stopped out shorts from yesterday's high and immediately reversed
2. We could not get over 3800 resistance level.
3. Vix still holding up with bullish bias over midline of Bollinger band.
4. put/call ratio still not spiking
5. Hourly rsi bearish divergence already with last high.
Over 3800 tomorrow and it's more bullish for sure, but if we flush overnight and tomorrow, we may be headed to 3500 area by early July.
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