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SPX today’s candle is a little annoying, yes, but we shouldn’t expect that the market can always go up, without taking a rest. The price respected the 2858 support zone (light blue line) and closed a gap.
If we look at the hourly chart, we may see this move as a correction after a pivot breakout, which is a natural and healthy move for SPX.
Now, there’s not much to do. Like Charles Dow would say, the trend will continue, until it got reversed. In the lack of any bearish sign, we can understand any drop in the prices as a pullback.
* LIKE this idea and FOLLOW me, because:
- Here, you will see clean charts;
- Daily analysis;
- Trades with clear risk management;
- The best of Dow Theory, Price Action and Candlestick psychology;
- Chart patterns with statistics. *
* My name is Nathan, I'm a trader and portfolio manager and I'm here to LEARN. Leave your COMMENT and FOLLOW me to keep in touch. *
SPX today’s candle is a little annoying, yes, but we shouldn’t expect that the market can always go up, without taking a rest. The price respected the 2858 support zone (light blue line) and closed a gap.
If we look at the hourly chart, we may see this move as a correction after a pivot breakout, which is a natural and healthy move for SPX.
Now, there’s not much to do. Like Charles Dow would say, the trend will continue, until it got reversed. In the lack of any bearish sign, we can understand any drop in the prices as a pullback.
* LIKE this idea and FOLLOW me, because:
- Here, you will see clean charts;
- Daily analysis;
- Trades with clear risk management;
- The best of Dow Theory, Price Action and Candlestick psychology;
- Chart patterns with statistics. *
* My name is Nathan, I'm a trader and portfolio manager and I'm here to LEARN. Leave your COMMENT and FOLLOW me to keep in touch. *
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