SPX:
Ok so this is my revised outlook for SPX.
It looks like it has probably topped at the 4 hour 200MA, although with possible whipsaw it could well tag the MA again, though I'm guessing not.
You can see it has drifted out of the ascending channel and forming a dome shape as upside impetus has waned. This will likely lead to impulsive downside soon.
And so, I'm still bullish mid term even with a fast collapse here, but I am bearish and short in the short term.
If the bull market or a big bounce is on then I think its going to be quite a struggle at first - probably, not definitely, there is a lot that can happen.
But I think the blue retracement band getting hit is now likely considering this doming and it can potentially re-test this long term 1.618 fib taken from the first 3 major pivots.
That may prove to be a good area to buy back in and I will sell my short by then perhaps 👍.
Not advice.
Ok so this is my revised outlook for SPX.
It looks like it has probably topped at the 4 hour 200MA, although with possible whipsaw it could well tag the MA again, though I'm guessing not.
You can see it has drifted out of the ascending channel and forming a dome shape as upside impetus has waned. This will likely lead to impulsive downside soon.
And so, I'm still bullish mid term even with a fast collapse here, but I am bearish and short in the short term.
If the bull market or a big bounce is on then I think its going to be quite a struggle at first - probably, not definitely, there is a lot that can happen.
But I think the blue retracement band getting hit is now likely considering this doming and it can potentially re-test this long term 1.618 fib taken from the first 3 major pivots.
That may prove to be a good area to buy back in and I will sell my short by then perhaps 👍.
Not advice.
Your FA guru can't read a chart💭
I run a technical group with lots of content every day + regular videos, 1:1, chatroom 🚀.
Better than all the rest? My record speaks for itself 💡.
Telegram Group: $50 per month✨.
Contact: t.me/dRends35
I run a technical group with lots of content every day + regular videos, 1:1, chatroom 🚀.
Better than all the rest? My record speaks for itself 💡.
Telegram Group: $50 per month✨.
Contact: t.me/dRends35
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
Your FA guru can't read a chart💭
I run a technical group with lots of content every day + regular videos, 1:1, chatroom 🚀.
Better than all the rest? My record speaks for itself 💡.
Telegram Group: $50 per month✨.
Contact: t.me/dRends35
I run a technical group with lots of content every day + regular videos, 1:1, chatroom 🚀.
Better than all the rest? My record speaks for itself 💡.
Telegram Group: $50 per month✨.
Contact: t.me/dRends35
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.