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themarketzone

Was rejected this week by the broken uptrend and resistance zone

S&P 500 Index (FX:SPX500)  
themarketzone  
FX:SPX500   S&P 500 Index
SPDR S&P 500 ETF (SPY) SPX (S&P 500 Index) tradingideas tradingrange Fibonacci falsebreakout
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spy spx tradingideas tradingrange fibonacci falsebreakout
$SPY was rejected this week following a re-test of previous record highs (or what I call the top of the False breaks trading range) and a re-test of broken uptrend line.

The situation in $SPX is well explained in the chart as we have two different trading ranges - Main and extended (False Breaks range).

2060-2120$ is the main zone
2040-2130$ is the extended False Break trading range

Have a great weekend everyone and make sure you don't miss the next Weekly Markets Analysis
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