Lately we've seen bigger waves down together with correction bounces - in which market turned bullish each time. As you can see - this pattern has repeated twice, each time getting deeper - right now we managed to hold the bears a bit for some time, but the pattern still persists - this time not aiming so deep, but still allowing to think we can retest the local bottoms at least one more time. VIX's curves (check VIX idea) is also creating a curvy channel with chances of pump up after the breakout (Which would be bearish for SPX).
Either way - today and tomorrow will be crutial for next weeks - We need to monitor those marked areas and seek breakouts with volumes.
I remain bearish.
Cheers!
Either way - today and tomorrow will be crutial for next weeks - We need to monitor those marked areas and seek breakouts with volumes.
I remain bearish.
Cheers!
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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.