We need a driver!
Driver is missing! What will be the next driver for the SPX index to continue its climb?
-The previous driver, inflation, has passed. US long-term interest rates are rising. Full employment as well.
-I sincerely wanted to know which driver will be. Does the Fed have something tucked away in its drawer? The market needs a conductor!
-In a previous review I even mentioned that I'm surprised by the sudden strength the index has shown. Now I ask. Will it last?
-The monthly bias is still upward, however, at the moment, this increase has become moderate. We have the 4506 region mentioned earlier as an important point to beat if the bulls want to continue their rally.
-Weekly: The weekly bias, as well as the monthly one, is weakening and needs a new driver. It seems to me that there is an exchange of lots between institutional investors. How strange!
-Aida on the weekly chart, prices reached the golden region of FIB. See below.
-On the daily chart we have a bearish pivot on the verge of being formed if prices lose the region of 4420. Its destination could be the long average just below, in the region of 4100.
-On the hourly chart we have prices working below the long average. We have a bearish pivot already consolidated according to the SETUP used. The previous bottom at 4374 could be its destination, so that we can finally make a better decision about the direction in which prices will proceed. As said, we need a driver!
It's worth your reading!
-Do your analysis and good business.
-Be Aware, If You Buy, Use Stop!
-See below for other graphic analysis.
-The previous driver, inflation, has passed. US long-term interest rates are rising. Full employment as well.
-I sincerely wanted to know which driver will be. Does the Fed have something tucked away in its drawer? The market needs a conductor!
-In a previous review I even mentioned that I'm surprised by the sudden strength the index has shown. Now I ask. Will it last?
-The monthly bias is still upward, however, at the moment, this increase has become moderate. We have the 4506 region mentioned earlier as an important point to beat if the bulls want to continue their rally.
-Weekly: The weekly bias, as well as the monthly one, is weakening and needs a new driver. It seems to me that there is an exchange of lots between institutional investors. How strange!
-Aida on the weekly chart, prices reached the golden region of FIB. See below.
-On the daily chart we have a bearish pivot on the verge of being formed if prices lose the region of 4420. Its destination could be the long average just below, in the region of 4100.
-On the hourly chart we have prices working below the long average. We have a bearish pivot already consolidated according to the SETUP used. The previous bottom at 4374 could be its destination, so that we can finally make a better decision about the direction in which prices will proceed. As said, we need a driver!
It's worth your reading!
-Do your analysis and good business.
-Be Aware, If You Buy, Use Stop!
-See below for other graphic analysis.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.