S&P 500 IndexShort
Still short SPX, reasons why from my view
Trendline from the start of the year was touched.
410 resistance was touched and rejected immediately, volume profile shows this was a key pivoting point all year
lower volume, and price exhaustion on 9 count(weekly+daily)
Bearish behaviour at 200 ma again
Fib retracement shows we are in the golden pocket like the other rallies this year(0.618-0.7)
Bearish divergences on macd and many other indicators
Rising wedge on current rally(bearish)
Breadth indicators are above April levels for the spy
Vix has a positive divergence and is at strong support
410 resistance was touched and rejected immediately, volume profile shows this was a key pivoting point all year
lower volume, and price exhaustion on 9 count(weekly+daily)
Bearish behaviour at 200 ma again
Fib retracement shows we are in the golden pocket like the other rallies this year(0.618-0.7)
Bearish divergences on macd and many other indicators
Rising wedge on current rally(bearish)
Breadth indicators are above April levels for the spy
Vix has a positive divergence and is at strong support
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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.