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subtlepapi

$SPX - Overbought or Trendline Breakout?

S&P 500 Index (TVC:SPX)  
subtlepapi  
TVC:SPX   S&P 500 Index
Trend Analysis Chart Patterns Technical Indicators S&P 500 (SPX500) SPX (S&P 500 Index) SPDR S&P 500 ETF (SPY) sp500index nasdaq nyse breakout resistance_level Trend Line Break
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trendanalysis chartpattern indicator spx500 spx spy sp500index nasdaq nyse breakout resistance_level trendlinebreak
Technical Analysis (TA)
The daily chart momentum indicators are showing signs of SPX being overbought with 1 of 3 indicators on the weekly showing early signs of being overbought.

We are testing the descending line and there is a possibility of breakout or rejection here.

With daily indicators being overbought a dip to 4080 would be welcomed to reset the indicators for a push above 4200 with more momentum than we are currently experiencing.

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