โข The index hit our resistance at the 21 ema, and it couldnโt break it;
โข On the other hand, the 3,818 is a key support area, which is preventing a further drop to the 3,744 (next technical support level, green line);
โข As long as the index remains between these two key points, itโll be in a โno manโs landโ, moving erratically while we donโt see any good technical breakout indicating a possible bullish reversal or bearish continuation pattern;
โข Thereโs another key point at 3,911, which did work as a support/resistance multiple times since July 2022. If SPX breaks this key point, it might easily retest the 4k again, possibly breaking it;
โข The 3,744 plays a similar role, but to the downside, as if the index loses this key point, we might see a continuation of the bearish sentiment to lower levels;
โข For now letโs keep these key points in mind. Iโll keep you updated on this.
Remember to follow me to keep in touch with my daily analyses!
โข On the other hand, the 3,818 is a key support area, which is preventing a further drop to the 3,744 (next technical support level, green line);
โข As long as the index remains between these two key points, itโll be in a โno manโs landโ, moving erratically while we donโt see any good technical breakout indicating a possible bullish reversal or bearish continuation pattern;
โข Thereโs another key point at 3,911, which did work as a support/resistance multiple times since July 2022. If SPX breaks this key point, it might easily retest the 4k again, possibly breaking it;
โข The 3,744 plays a similar role, but to the downside, as if the index loses this key point, we might see a continuation of the bearish sentiment to lower levels;
โข For now letโs keep these key points in mind. Iโll keep you updated on this.
Remember to follow me to keep in touch with my daily analyses!
๐ด Only 5% of traders manage to beat the market.
๐ Join the 5%: thefinancehydra.com/
๐ฒ๐ฒ Project 5%: + 104%
๐น S&P500: +35%
๐ช Public track record.
๐ Join the 5%: thefinancehydra.com/
๐ฒ๐ฒ Project 5%: + 104%
๐น S&P500: +35%
๐ช Public track record.