stantrader
Short

SPX - Are you tired? The SPX is Tired... hangman?

AMEX:SPY   SPDR S&P 500
We have hit exhaustion. We finally made it to 2200, and we did it in parabolic form. Similar to the trajectory of a rocket.

Today we closed above 2200, but not without a day of wrestling with a bear . We posted a hangman candlestick which usually concludes the end of a trend. Furthermore, volume was very light and below average. Every time we have posted a hangman, doji , or shootingstar on light volume and an overbought ( RSI ) market we have reversed. Today we see the same. This is showing exhaustion. This coupled with higher interest rates, and an impending rate hike, show some struggles for the bulls to come. As a historical note, the 10-yr T-Note is at the same level from a year ago. And both times we were going into a rate hike. Trade with caution.

Let me know your thoughts in the comments section.
Interesting that we didn't break yesterday's (11/22) high of 220.79. Double top? Time will tell.
Reply
respectbear stantrader
@stantrader, hanging man failed
Reply
stantrader respectbear
@respectbear, it did, but again, time will tell.
Reply
respectbear stantrader
@stantrader, agree.
Reply
You're saying the s&p is going to die?
Reply
stantrader IAMTHEFROG
@IAMTHEFROG, hahahaha no, just correct about 10%.
Reply
I will send around 2240 level. I know that 2240 will be top. We won't see this level next 7 years.
Reply
saylikubac saylikubac
@saylikubac, I will sell around 2240 level
Reply
United States
United Kingdom
India
Deutschland
España
France
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
Malaysia
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing Priority Support Ideas Published Followers Following Private Messages Chat Sign Out