Good day ladies and gents,
this is my first technical analysis on the SPX and it's clearly not a bullish one. The SPX had an astonishing bullrun over the recent years but a bear flag is marking its end. A double top formed on the RSI(14) indicator which only confirms the bearish breakout. The blue box on the chart acts a support and first target.
Keep in mind that I'm still a novice to TA and don't know too much about it. Feedback, be it positive or negative is very welcome.
Cheers
this is my first technical analysis on the SPX and it's clearly not a bullish one. The SPX had an astonishing bullrun over the recent years but a bear flag is marking its end. A double top formed on the RSI(14) indicator which only confirms the bearish breakout. The blue box on the chart acts a support and first target.
Keep in mind that I'm still a novice to TA and don't know too much about it. Feedback, be it positive or negative is very welcome.
Cheers
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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.