So here is an easy ta for SPX:
From my last report (SP500 neutral) we´ve seen a push up above 61 fib. retracement. Of course, it was a bullish signal and now we´re moving in a bullish szenario.
As I said, retail investors had created this rally. One look on cash reserves from institutional investors is enough to justify that.
Well, fact is that everything above 61 fib. retracement is the bullish way to life. We now have a strong support zone between 2960 and 2800. Under 2800, we´re getting into bear zone and that shows growing fear.
RSI: No real signal
MACD: Crossover signal with tendency down compared with low volume can signal a short time consolidation.
So, I want to throw question in the room- its time for healthy correction? I guess, air up to old ATH is thin so we need next push from FED, or just these healthy correction to 61 FIb.
If you have an opinion to that question, feel appreciated to comment :)
Good luck for your trading!
From my last report (SP500 neutral) we´ve seen a push up above 61 fib. retracement. Of course, it was a bullish signal and now we´re moving in a bullish szenario.
As I said, retail investors had created this rally. One look on cash reserves from institutional investors is enough to justify that.
Well, fact is that everything above 61 fib. retracement is the bullish way to life. We now have a strong support zone between 2960 and 2800. Under 2800, we´re getting into bear zone and that shows growing fear.
RSI: No real signal
MACD: Crossover signal with tendency down compared with low volume can signal a short time consolidation.
So, I want to throw question in the room- its time for healthy correction? I guess, air up to old ATH is thin so we need next push from FED, or just these healthy correction to 61 FIb.
If you have an opinion to that question, feel appreciated to comment :)
Good luck for your trading!