Tentatively bearish on SP500
I've written about the indices this weekend, but I wanted to publish this chart with some levels to look at. We're probably headed into a trading range on the SP500 on the near term, but you can see the increasing levels of support as we go down.
If you wanted to go higher, you needed to keep swinging higher, which we haven't.
Overall, it's probably a trading range for now, but I'm thinking that the likelihood is greater for down than up.
If you wanted to go higher, you needed to keep swinging higher, which we haven't.
Overall, it's probably a trading range for now, but I'm thinking that the likelihood is greater for down than up.
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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.