SPX HITS A WALL
As we stated in previous comments, the fight for control begins at SPX 1420-1440. So far, that level has proven to be a hard barrier to overcome as the SPX chart shows a short-term double top at SPX 1420.
Now, it would seem we traverse back down and give back some of the March-April gains (almost 14%). I remain committed to the “no need for a retest of the lows again” and look for SPX 1350-1375 as support. The TAS and MACD will provide some clues as to the next oversold opportunity (NOT THERE YET).
3 years ago • Notes