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Juliac
Sep 2, 2022 8:57 AM

SPX and NQ - short term bounce coming 

US 100 IndexTVC

Description

After retracing 61.8% of the recent AB up swing (that lasted 2 months from 17 June to 16 Aug), the market finally seem to be finding support yesterday, forming a bullish pin bar and a potential bullish divergence between price and stochastics.

However note that a bullish divergence usually signify a SHORT TERM trend reversal (lasting only several candles) and may not translate into a longer term trend reversal.

There is a chance we could be in a whipsaw market for a while more. Need to be nimble still until we see a clearer picture.
Stay safe.

Disclaimer: Just my 2 cents and not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Take care and Good Luck!
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