The Story of SPX
Updated
I am going to paint you a story. Judge & Act for yourself.
Before the worst plunge on 24th Dec 2018 involving FAANG, the Orange Support Line has always been the Support Line and turned Resistance after market recovered from T Tweets.
The Blue Line became the support during the trade war period.
Please notice that every time the trend line cuts the support or resistance, the trend reverses.
The Yellow Triangle is an area of interest.
In normal situation until the Trade war "has set a direction" , expect tight prices while market is ranging into a built-up.
Otherwise, expect large movements testing every support / resistance , breaking trends in a very fast pace.
This is not a financial advice.
Before the worst plunge on 24th Dec 2018 involving FAANG, the Orange Support Line has always been the Support Line and turned Resistance after market recovered from T Tweets.
The Blue Line became the support during the trade war period.
Please notice that every time the trend line cuts the support or resistance, the trend reverses.
The Yellow Triangle is an area of interest.
In normal situation until the Trade war "has set a direction" , expect tight prices while market is ranging into a built-up.
Otherwise, expect large movements testing every support / resistance , breaking trends in a very fast pace.
This is not a financial advice.
Note
The Story of Dow Jones
Note
The futures index is now 3030, 1 point away from resistance.Note that GOOG is releasing earning report after today’s bell.
This will breakout / test the resistance.
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