SPX500 with Expected correction.
Updated
US500 - Intraday
We look to Sell
We are trading at overbought extremes.
Momentum is stalling with the posting of new highs and indicates bearish divergence.
Although the bulls are in control, the stalling positive momentum indicates a possible turnaround is possible. We have a 78.6% Fibonacci pullback level of 3507 from 3588 to 3210.
We have a 61.8% Fibonacci pullback level of 3444 from 3588 to 3210.
Preferred trade is to sell into rallies.
Our profit targets will be 3444 and 3420
Resistance: 3508 / 3526 / 3536
Support: 3490 / 3485 / 3444
We look to Sell
We are trading at overbought extremes.
Momentum is stalling with the posting of new highs and indicates bearish divergence.
Although the bulls are in control, the stalling positive momentum indicates a possible turnaround is possible. We have a 78.6% Fibonacci pullback level of 3507 from 3588 to 3210.
We have a 61.8% Fibonacci pullback level of 3444 from 3588 to 3210.
Preferred trade is to sell into rallies.
Our profit targets will be 3444 and 3420
Resistance: 3508 / 3526 / 3536
Support: 3490 / 3485 / 3444
Trade active
Trade closed: stop reached
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