SPX reacts... But for how long?

SPCFD:SPX   S&P 500 Index
Hello traders and investors! How are you today? And the struggle continues here on SPX! Let’s talk about it, but first, if you are new around here, I invite you to follow me to keep in touch with my analyses. Every day, after the market closes, I’ll analyze some assets. And check my social media, because there is some interesting stuff over there too – link below.

Ok, back to SPX , it did a bullish candle today, above the famous 3k. It closed above its previous bottom (black line at 3024), and it seems it did a tiny bullish pivot . Personally, I would like to see a clearer bullish pivot here, but we work with what we got, right? Now the daily chart:

Yes, another bullish pattern – a Harami. I would like to see that Harami closer to the black line at 2958. I noticed that the black candles have higher volume than the white ones, which is curious. I’m not entirely convinced by anyone here yet – the bulls and the bears seem very weak, and those who follow me for a while know that I wish for a sharper pullback here, before building our next portfolio.

Now, our Trading Difficulty Score is around 7/10 (it decreased a little since last week), but it is still relatively high. We should wait until it drops to 5/10 to build a full portfolio. Despite of this, there are some very good and interesting opportunities around the market right now.

I discussed about these opportunities with my group today, and probably one of these stocks will be part of my next portfolio. Either way, SPX needs to react this week, because there are some bearish signs, like these two island reversal patterns, and descending tops and bottoms (hourly chart). If the market loses its 3k, then I’ll just re-think our strategy. Only time will tell.

Recent public trades (links below):

XP: +30%
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UKOIL: +62%

Congratulations to all of you, my dear subs, who believed in my trading methodology, and challenged the world by being a bull! We deserve to celebrate!

Remember to follow me, I’m a trader who uses the classic technical analysis (barely any indicator, just the candles and the volume ). Like this idea if it helped.

Thank you very much.

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Thank you cant wait to get my membership started July 1rst!
+1 Reply
Nathan_Black weathertrader
@weathertrader, Hello weathertrader! Thank you very much for the support, my friend!

You are welcome to our community, and it will be an honor to trade by your side! I have great stuff planned this month for you guys!

I wish you well.
interesting chart. i think i agree with the direction of next leg being down.
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