SPX: All according to our plan! What's next?
Hello traders and investors! The index did exactly what we said here, two days ago, and now it is time for an update. The link to our previous analysis is below this post, if you are curious.
First, it hit the dual support level made by the two black lines and it is already bouncing back up. We have a congestion in the 1h chart, and the 4,180s is the bottom area. Now it seems the index is seeking the ATH.
In the daily chart, we retested the 21 ema, as we already expected we would, and we have a nice Hammer pattern. The 4,238 is the next target, but we must not lose the dual-support area in the 1h chart, as this could indicate a further drop ahead.
Let’s be careful here! Remember to follow me to keep in touch with my daily updates, and please, support this idea if it helped you!
Thank you very much!
First, it hit the dual support level made by the two black lines and it is already bouncing back up. We have a congestion in the 1h chart, and the 4,180s is the bottom area. Now it seems the index is seeking the ATH.
In the daily chart, we retested the 21 ema, as we already expected we would, and we have a nice Hammer pattern. The 4,238 is the next target, but we must not lose the dual-support area in the 1h chart, as this could indicate a further drop ahead.
Let’s be careful here! Remember to follow me to keep in touch with my daily updates, and please, support this idea if it helped you!
Thank you very much!
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