Hi Traders,
SPX is showing signs of a potentially bearish formation—a head and shoulders top.
Historically, this pattern has signaled increased downside risk for equity markets.
As the price draws closer to the neckline, a break below could take us to the next major support level around 5,600.
This will be a crucial zone to for traders and investors to monitor closely.
Market conditions could sour quickly and an accelerated drop should cause traders to act cautiously over the next couple of weeks.
Good luck out there.
Mark
SPX is showing signs of a potentially bearish formation—a head and shoulders top.
Historically, this pattern has signaled increased downside risk for equity markets.
As the price draws closer to the neckline, a break below could take us to the next major support level around 5,600.
This will be a crucial zone to for traders and investors to monitor closely.
Market conditions could sour quickly and an accelerated drop should cause traders to act cautiously over the next couple of weeks.
Good luck out there.
Mark
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.
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.