SPX approaching a downsloping resistance.
It may fakeout above the trendline to trick traders but don't get it twisted. This bear market rally is almost done and it's a time for a major move.
Lower high after lower high is suggesting downtrend continuation.
Are you ready for a 17 % dump? If you are not ready, this is a friendly reminder that it may be a right time to close your longs and enter shorts or stay on the sideline.
It may take some time so be patient!
Good luck!
It may fakeout above the trendline to trick traders but don't get it twisted. This bear market rally is almost done and it's a time for a major move.
Lower high after lower high is suggesting downtrend continuation.
Are you ready for a 17 % dump? If you are not ready, this is a friendly reminder that it may be a right time to close your longs and enter shorts or stay on the sideline.
It may take some time so be patient!
Good luck!
Trade active:
A downsloping resistance still acting as a resistance. Looks like rejection .
Comment:
Another attempt of breaking resistance has been unsuccessful. Waiting patiently for SPX to reach our targets.
Comment:
Bulls have their chance . Expecting the price to retest the major downsloping trendline. If we see a close above the trendline , it will be bullish. Decision time soon
Comment:
SPX got rejected at the resistance with a daily bearish engulfing candle.
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If it breaks the resistance, we may see 4300. Observing closely.