Looks like the SPX has set the stage for a head & shoulders bottom reversal, of course looking to see true confirmation in today's price action. Should be a very pivotal moment in the SPX. Keeping an eye on key region of 2800-2815 if the right shoulder truly forms, and also keeping a close watch on that support level of 2620ish... if broken this could pave the path for another leg down.
RSI implying that we're in quite a oversold situation going into the shoulder, which hopefully means there's some juice left in the tank for a strong reversal.
RSI implying that we're in quite a oversold situation going into the shoulder, which hopefully means there's some juice left in the tank for a strong reversal.
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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.