SPX is currently below the 50MA on the weekly.
SPX has broken back through 4320 after having rallied to get above it
SPX seems to be in a downward channel
RSI and VI are still weak and bearish
On a potential bright side,
It may hold and bounce off the current fib support, but if it breaks below, next stop is the 3700's level.
It may also get some support from a H&S neckline.
SPX has broken back through 4320 after having rallied to get above it
SPX seems to be in a downward channel
RSI and VI are still weak and bearish
On a potential bright side,
It may hold and bounce off the current fib support, but if it breaks below, next stop is the 3700's level.
It may also get some support from a H&S neckline.