SPX in 4H seem to have found a new trend towards 4000P, but its tight and could quickly fall of at around 3985/3900 to create a "head and shoulder pattern" which is usually bearish.
If it hits roof at open on monday im expecting another pullback to 3700 and best case it continues the trend up with a bottom at 3830.
SPX in 1D seems to have hit the roof already, pointing it towards a bit of a down day on monday.
In conclusion, everything points towards another bearish day, but lets not forget the third round of stimulus check.
Buy or sell on news?
Comment
⋅
Update: It closed -0.54% (20,59P) Still inside the tiny trend tunnel, lets see if it will break it up today.
Great job! The stimmy should be priced in already right? Buy the rumor, sell the news my friend...
Oerhortbegovad
⋅
@John_Q_Public, Yes, it may already be priced in for the most part, but i think they still may give a bit of a push once the people start getting them.