My opinion on S&P500 that could led to another leg down. It has been mirroring the same pattern three times in the row.
Will it fake the bulls and pull the rug under them with the FOMC this week? Or will the bulls take advantage of the major companies earnings.?
SP500 spiked on the down side and once it found a bottom it quickly retraced after the sellers took profits and new buyers started buying at bottoms. Looking for SP500 to form a bottom possibly even lower a bit with the todays news and looking to rally up next week to fill the gap above.
This should not be considered as trading advise it is simply for...
Mara: the more conservative approach in my opinion would be to wait for the gap fill below prior to starting to accumulate as price consolidates and hopefully starts to move to the upside.
only for illustration purposes not trading advice.
Crucial area for ETH. Looking to bounce of the trend line and start making HH again.
If we do break the trend line to the downside, we will wait and see if we can get back up right away or retest the trend line for a deeper pullback to the downside.
Thats my personal point of view of the market, you should do your own research :)
