SPX LAST LINE OF DEFENSE FOR BEARS
Updated
1. Last Sell Zone that started the sell off.
2. Shall wait to see how price reacts in that zone.
3. Short at 2703 for a good RR.
4. RSI is very overbought
5. Harmonic Bat pattern as well.
6. Volume is still low in this rally. A lot of sideline money on the fence, thus probability for another downward move is still possible.
*If price breaks this level, mindset will switch to bullish.
2. Shall wait to see how price reacts in that zone.
3. Short at 2703 for a good RR.
4. RSI is very overbought
5. Harmonic Bat pattern as well.
6. Volume is still low in this rally. A lot of sideline money on the fence, thus probability for another downward move is still possible.
*If price breaks this level, mindset will switch to bullish.
Note
Rising Wedge as well in the 1 hourly chart. We could see that heavy resistance by the rising wedge as well.
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