S&P500 TA: Time To Go Long!!! PT: 4600
September has historically been a pretty brutal month for the entire stock market, and this september was no different when at one point we were down about 6% on the S&P, but now there are signs that the selloff could finally be over as we enter the month of October
-First of all we had our first dip, a relief rally, then the second leg of the selloff, which is very similar to what we did last year around this time, And secondly we have very clearly faked out below the 100ma on the daily, again similar to last year.
-Bullish Divergence on the 4H & Daily Timescales.
-Vix Made a Lower High while the S&P500 made a Lower Low, which is another indicator that sellers are getting exhausted.
-First of all we had our first dip, a relief rally, then the second leg of the selloff, which is very similar to what we did last year around this time, And secondly we have very clearly faked out below the 100ma on the daily, again similar to last year.
-Bullish Divergence on the 4H & Daily Timescales.
-Vix Made a Lower High while the S&P500 made a Lower Low, which is another indicator that sellers are getting exhausted.
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.