Hold on to your hats your shorts and if you're long you're going to be sore because SPX appears to be falling into the abyss.
You can see with the weekly MAs it has rejected at the 20 and now 50MA with a big sell candle. It looks very likely to trend down now.
And it topped out around that all significant 1.618 - you can see it captured both shoulders of an H&S.
So now the question is what type of correction or crash will be and can you guess my answer is probably as it should be - I dont know, so I wont be catching any falling knives...
That said I am looking at the 0.618 $2.9K area as a potential for reversal.
Not advice.
You can see with the weekly MAs it has rejected at the 20 and now 50MA with a big sell candle. It looks very likely to trend down now.
And it topped out around that all significant 1.618 - you can see it captured both shoulders of an H&S.
So now the question is what type of correction or crash will be and can you guess my answer is probably as it should be - I dont know, so I wont be catching any falling knives...
That said I am looking at the 0.618 $2.9K area as a potential for reversal.
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
Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
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
Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.