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S&P 500 Index
Updated

SPX update - watch for a weak bounce

740
I think the downtrend is done for a while regardless of how this closes today. The rsi needs to reset and a weak bounce for a few weeks would make sense. 4450 area would be an ideal bounce target, but the RSI will tell us when it's time to short again.

Good luck!

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Target area reached (18 ma weekly) overnight. If they can't rally here, then the 18ma will become resistance on the way back up when it happens. snapshot
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ok so it bounced but it's still in this downward channel. Needs to break out of that. snapshot
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IWM outperforming. Even if there is one more low I think the bounce comes next week. Similar head and shoulders pattern forming here. snapshot
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channel test again, nothing has broken out yet. Hard to say how Monday is going to look. snapshot
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still no break at close snapshot
the_sunship
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Chart PatternsHarmonic PatternsTechnical Indicators
the_sunship
Also on:

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.