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S&P 500 Index
Short

SPX Shaping up for the bearish sell

1 091

Hello traders:

Looking at SPX here for further development on the bearish move.

We see the price action had a bullish push up breaking previous highs.

However, price did not continue with continuation corrections, instead we see the bearish move down on the LTF.

This is a good indication that the bullish momentum is exhausted, and we may see the reversal happening in the coming days/week.

Wait for this LTF correction to develop and finish before getting in the sell.

Thank you
jojofang0901
Also on:
Chart PatternsFlagIndicesParallel ChannelpatternpriceactionS&P 500 (SPX500)SPDR S&P 500 ETF (SPY) structureusindices

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Chart PatternsFlagIndicesParallel ChannelpatternpriceactionS&P 500 (SPX500)SPDR S&P 500 ETF (SPY) structureusindices
jojofang0901
Also on:

Related publications

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.