My prior SPX post noted the SPX could reach support in the 2693 to 2725 area on 5/31/19.
Early in the day on 5/31 the SPX hit a daily Point of Control value at 2753. The SPX at that level had an hourly RSI bullish divergence.
The SPX rallied off this point yet before the close this rally was retraced.
Daily Stochastic has reached oversold level indicating that if a bottom is not already in place it could be soon.
It appears the SPX could be heading down to the major value zone sometime this week. There's a Fib time ratio on 6/5/19.
I will have an SPX update later this week.
Mark
Early in the day on 5/31 the SPX hit a daily Point of Control value at 2753. The SPX at that level had an hourly RSI bullish divergence.
The SPX rallied off this point yet before the close this rally was retraced.
Daily Stochastic has reached oversold level indicating that if a bottom is not already in place it could be soon.
It appears the SPX could be heading down to the major value zone sometime this week. There's a Fib time ratio on 6/5/19.
I will have an SPX update later this week.
Mark