Long
Have we reached peak fear in the SPX?
Since the 19th of March the volatility index VIX has continued to decline while the S&P500 has not formed a new low since 23rd March.
At the same time, we have a divergence on the #RSI indicator.
We should see the S&P500 bounce back short-term to the 2,800 level (50% fib retracement level) before selling off again.
At the same time, we have a divergence on the #RSI indicator.
We should see the S&P500 bounce back short-term to the 2,800 level (50% fib retracement level) before selling off again.
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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.