xtf_ze_trader

SPX aka S&P500 doesnt look bullish at all 🚨😫🚨

TVC:SPX   S&P 500 Index
This chart shows it all. I will try to be summarize what I see. But what I see doesnt look good for the bulls.
If you can see that area with an arrow, you can see an almost bearish engulfing candle which is inherently bearish and considering the recent days bullish euphoria perhaps it is time for a correction before higher price actions.
The market has broken the uptrend line and hence we may form a consolidation zone and rip up to higher prices or we may coil down to the abyss.
The market is hanging on the 50MA line, will this magic line save the queen? Lets wait and see what the market does.
daily PSAR flipped to the bearish side but this is not terrible if we form a consolidation zone in the 3300 zone.
weekly PSAR is about to flip bearish . This is terrible most of the time it is followed by massive sell offs.

To me bears have come back with all their arsenal it is time to tighten stop losses. I will keep you updated for all the new moves this market is going to play.
Stay tuned and stay safe. Dont forget to smash the likes.

XTF.

Comments

Feels like a double top and fall back to the 200 SMA to me. Formed strong support at the 3100 level back in June after that FOMO rally ended.
+1 Reply
xtf_ze_trader Dr_Roboto
@Dr_Roboto yes there is a probability of falling to 3100 then bounce a little bit.
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out