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christian.langfors
Feb 14, 2019 10:38 AM

SPX - POSSIBLE TOP FORMATION PROCESS 

S&P 500 index of US listed sharesFXCM

Description

Seems to me that SPX could be in the ending phase of building a short term top. Yesterday low level to watch now, will it hold or give in.
Comments
christian.langfors
Should see resistance right here. Plan to go short when EMA12 > EMA6 on 1H.

GL!
ForecastCity
thank you for sharing. would you explain why do you think that SPX could be in the ending phase?
christian.langfors
@ForecastCity, This is not yet confirmed but if you drill down to 15min time frame and look at the volatility/range on those red candles, the "pattern" is changing if you compare it to what it has been done in the advance since beginning of Jan '19.

If it breaks below yesterday low, I'd be a bit careful on the long side.
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