In the last update, we looked at the approaching downside inflection zones (zones where turns can occur), and SPX dropped down to the first inflection and bounced:
Intermediate term, the market still faces resistance:
In conclusion, bulls held the first inflection, which is the market's way of confirming that (previously-theoretical) zone as near-term support. Bulls still face intermediate resistance, so no questions have been answered yet. Trade safe.
No comments:
Post a Comment