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TA-based $SPX reversal scenario.
Basis:
- Convex arc forming
- Confirmation via 4H RSI, MACD bull div
- MS just flipped bullish, though more confirmation would be ideal
Expecting:
- Test / sweep of range low, then a flip of the range high
- Then continued upward movement
1/ https://twitter.com/FangTrades/status/1235383781919518720
Basis:
- Convex arc forming
- Confirmation via 4H RSI, MACD bull div
- MS just flipped bullish, though more confirmation would be ideal
Expecting:
- Test / sweep of range low, then a flip of the range high
- Then continued upward movement
1/ https://twitter.com/FangTrades/status/1235383781919518720
2/ Play forward my prediction here: https://www.tradingview.com/chart/SPX500/CYlxfRjY-TA-based-SPX-reversal-scenario/
3/ $SPX is playing out a range flip - bullish!
Not sure of the exact trajectory though - expected possibilities mapped out on the chart.
Main bearish argument is decreasing upward momentum / new concave arc. I think we'll see downside come April open, and upside thereafter.
Not sure of the exact trajectory though - expected possibilities mapped out on the chart.
Main bearish argument is decreasing upward momentum / new concave arc. I think we'll see downside come April open, and upside thereafter.
4/ I have no comments on the macro situation - that's not my game. My top recommendation for that kind of analysis is @krugermacro - mad respect for that dude.
5/ $SPX Update: Nailed it this time, though it's long term holdings only - no leverage. Expecting uptrend continuation to the 15th at least. I think we get a retrace first, to as low as ~2500. Break lower than 2430 and the idea is invalidated, downtrend continuation in that case.
