S&P 500 after elections, where now?
There is a symmetrical converging triangle.
The market seems listless in its direction. The supply and demand, therefore, seem to be one and the same.
During this period of indecision, the highs and the lows seem to come together in the point of the triangle with virtually no significant volume. In this case we just don't know what position to take.
You can choose a side, but remember to place a strict Stop-Loss.
Will note that RSI is increasing and crossing the 50 line, and might soon show a bullish signal based on my RSI High/Low Tunnels indicator.
Note: Bars are colored by the RSI High/Low tunnels indicator described as following:
If signal is still breaish but RSI is above 50 line we get Maroon Red (light red)- Weaker down trend
If signal is still breaish but RSI is below 50 line we get Red (strong red) - Stronger down trend
If signal is still bullish but RIS is below 50 line we get Teal (light green) - Weaker up trend
If signal is still bullish but RSI is above 50 line we get Green (strong green) - Stronger up trend
The market seems listless in its direction. The supply and demand, therefore, seem to be one and the same.
During this period of indecision, the highs and the lows seem to come together in the point of the triangle with virtually no significant volume. In this case we just don't know what position to take.
You can choose a side, but remember to place a strict Stop-Loss.
Will note that RSI is increasing and crossing the 50 line, and might soon show a bullish signal based on my RSI High/Low Tunnels indicator.
Note: Bars are colored by the RSI High/Low tunnels indicator described as following:
If signal is still breaish but RSI is above 50 line we get Maroon Red (light red)- Weaker down trend
If signal is still breaish but RSI is below 50 line we get Red (strong red) - Stronger down trend
If signal is still bullish but RIS is below 50 line we get Teal (light green) - Weaker up trend
If signal is still bullish but RSI is above 50 line we get Green (strong green) - Stronger up trend
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