SPX 5800 Strong resistance200 days HILO EMA central line has always given a strong support resistance in the past and I would expect that to be so this time as well. Since the market structure broke when prices crossed the lower outer ema band, even if the price goes above the middle line I would not consider it to be bullish.Only when the prices hit the upper or lower band a new trend can be confirmed.
For now I am just going to be short term trader and a cautious long term investor accumulator
of fundamentally good stocks. Not Tesla :)
Notice how the inner lines align with the the other lines before the breakdown! A kind of step formation, indicating the period selection of 200 ema is sound