traderCarl

SPX in sideways mode, a bullish or bearish case could be made.

INDEX:SPX   S&P 500 Index
49 0 1
#SPX is in a sideways mode and above the cloud using line chart (magenta). However, how the price reacts with the green or light red lines of the cloud will tell if this stays bullish or not. My concern is the rising support line (white) has been violated/ rejected twice already in recent days... Bulls must prove they want this higher. MACD is not quite above zero line, also a concern.