fractal_trader

SPX500 4h: Divergence Indicating Weakness

FX:SPX500   S&P 500 index of US listed shares
The SPX500             has been rising ever since the worst start of the year in history. This bullish movement could come to an end now as we don't only see a divergence and prices starting to trade inside of the balance zone on the daily chart .
This four hour chart shows price already tried to break through a fractal and is now sitting just on top of what looks like pretty strong support. As this market keeps trading below the balance zone an eventual break of support is possible, which would end the daily uptrend for now.
Comment: Weakness didn't last in the SP500, since posting this it has continued to make a new, even approaching weekly breakout levels now.
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