$SPX analysis short & longer term

10 באוק׳ 2023

SPX chart is quite INTERESTING.

We can see the obvious short term downtrend.
We're currently at the bottom part of the GAP.
Volume has been a lil lighter, holiday is likely the reason.
RSI broke the downtrend it was in

Maintained the longer term 2022 low up trend.

Can SPY reach the top part of the current downtrend?
SPXS SPXL
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Weekly SPX
Trading under the red moving avgerage.
Still looks similar to 2022.

Monthly SPY
MACD & RSI bounce do not look very strong from 9/22 lows.

Does look like a lil bit like a cup & handle formation, interesting.
Time will tell if that is what is forming/formed.

VIX not showing much on the Monthly charts.
Weekly MACD & RSI is showing some strength.