good evening,
spx500 is not looking so hot anymore.
currently backtesting the midline of the descending channel, which is also in confluence with a major level.
failure to push above 3950, and the spx500 will continue to spiral down.
----
on a positive note, we have some bullish divergence starting to print; perhaps a few more pokes at the lows, and we'll be able to get a definitive reversal.
spx500 is not looking so hot anymore.
currently backtesting the midline of the descending channel, which is also in confluence with a major level.
failure to push above 3950, and the spx500 will continue to spiral down.
----
on a positive note, we have some bullish divergence starting to print; perhaps a few more pokes at the lows, and we'll be able to get a definitive reversal.
Note
if es could get back above the midline of this bear channel, we could see continuation for a week or two. thenext few days are important.
if a successful breakout takes place, i will entertain it from this perspective:
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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.
i only share a tiny fragment of my ideas on this platform. to view my daily work, join the lunar syndicate 9 👇
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.