SPX about to break down
Updated
Consolidation phase is over, breaking down starting friday or monday.
Reasons: obvious. Pattern indicates chart will break either up or down, fundamentals favor down.
Estimate: retest 2 350-2400 support is the target. And then go from there.
Reasons: obvious. Pattern indicates chart will break either up or down, fundamentals favor down.
Estimate: retest 2 350-2400 support is the target. And then go from there.
Note
So breakout happened. But the opposite direction of what I believed. I don't see why the fundamentals would favor a rally, but I guess the fact that daily death's from coronavirus decreased has triggered the rally in the opposite direction of what I thought was likely.
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