UPDATE ON SP-500
Yesterday's price action settled on the 0.707 level of the complement range and sharply closed above the inflection point marked in blue.
In the post we discussed that the 0.618 level holds the door if price will reach the base of the range at 3960.10.
In contrast to DJIA, today's opening price for SPX is still holding above the 0.618 level trading between the mean and inflection.
If it moves past the mean then we can have price reaching 4510 level first before any reversal.
If we have a close below the inflection point then price trend resumes towards the base.
Trade responsibly.
In the post we discussed that the 0.618 level holds the door if price will reach the base of the range at 3960.10.
In contrast to DJIA, today's opening price for SPX is still holding above the 0.618 level trading between the mean and inflection.
If it moves past the mean then we can have price reaching 4510 level first before any reversal.
If we have a close below the inflection point then price trend resumes towards the base.
Trade responsibly.
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.
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.