$SPY #SPX Watch This Level For A Possible Bounce

Traders and Investors,

With the dollar strength the indices have been taking a beating. US30, US500 and US100 have been following the same pattern but the leading one is still Dow Jones (US30).

On the SnP500 so far:

1. It has NOT touched/crossed the 200 sma on the weekly timeframe so a test and then a bounce is expected at some point.
2. There is an FCP zone coming around round number 3550 which can act as support
3. An extended M FCP pattern is forming and will complete around the FCP zone.

So watch this area closely to find a confirmation to go long for a bounce.

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1. Never trade too much
2. Never trade without a confirmation
3. Never rely on signals, do your own analysis and research too

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Take care and trade well
-Vik

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📌 DISCLAIMER
The content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of education only.
Not a financial advice or signal. Please make your own independent investment decisions.
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