Several indicators are pointing to a bounce in SPX:
* it's well outside of its bollinger band
* RSI is just under 40 - usually we see a bounce at this level
* The last candle ran away from the 8-day EMA
The attraction of the bounce will be 8-day EMA. It's entirely possible that this bounce will be sold by the end of the session. Still, that's at least 25 point move in SPX we're talking about.
* it's well outside of its bollinger band
* RSI is just under 40 - usually we see a bounce at this level
* The last candle ran away from the 8-day EMA
The attraction of the bounce will be 8-day EMA. It's entirely possible that this bounce will be sold by the end of the session. Still, that's at least 25 point move in SPX we're talking about.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.