S&P 500 IndexShort
THE BANKS GETTING BAILED OUT WON'T CHANGE MARKET DIRECTION...
SPX direction is still headed down.
Net volume down + increasing price = bearish divergence.
My call is still 3050 = .618 Fib support from ATH.
SIVB and other banks getting bailed out won't change this effect.
Just a few weeks ago, banks were "fine" and the direction was still down.
Massive bearish pennant broke, noted by green arrow.
Short term price action is all smoke.
Net volume down + increasing price = bearish divergence.
My call is still 3050 = .618 Fib support from ATH.
SIVB and other banks getting bailed out won't change this effect.
Just a few weeks ago, banks were "fine" and the direction was still down.
Massive bearish pennant broke, noted by green arrow.
Short term price action is all smoke.
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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.