SPX: A Dangerous Resistance. 👀

• The SPX is correcting today, back to its 21 ema in the 1h chart, as usual;
• In the daily chart , there’s still some upside left, as we have yet to retest the 4,100 area, but the index is quite far from its 21 ema in this time frame;
• If it loses the 21 ema in the 1h chart, or does a clear bearish structure, then it might correct to the 21 ema in the daily chart , around the 3,800;
• As long as the trend remains bullish in the 1h chart, hardly a sharper correction will materialize;
• Therefore, let’s pay attention to the 21 ema (1h), and on how the index will react from here, as it is near the resistance at 4,100;
• So far, no clear top sign. I’ll keep you updated on this, as usual.

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