Tradeciety
Short

SPX - break or bounce?

SP:SPX   S&P 500 Index
200 0 3
The 1873 area will be the dominant topic going into next week's trading. The last time we saw a strong rejection at that same level. However, we do not expect to see a similar bounce this time. The ADR is moving at a very low level.

A look at NYSE data showed that 429 stocks are trading at their 52 week lows and only 2 at their 52 week highs. This is a very bearish measurement.

At the same time, the VIX             is rising to new highs, Crude has already broken its major support and Gold             saw another bullish day after the S&P 500             sold off on Friday.
I am trading Forex for 10 years and 5 years ago I quit my corporate job to travel the world


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