SPX has been experiencing a relief raly after the weekly and the daily charts were oversold however it has keey resistance levels are $4.2k and I expect to come back down as the ADX is still in the reset mode.
Bearish Scenario
Please be cautious as this rally might be short-lived. We might need to come back down to $3.6k and consolidate further before a full...
My cautious call of 2 weeks ago may have been premature (see link below).
However, we are now seeing additional cautionary signals on the SPX :
1. Two consecutive down days at the beginning of this week;
2. Visible break yesterday on the index (gap down);
3. Reasonable volume on the downside;
4. Traded and closed below SMA10;
5. Tech...