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$SPX - Chart Link- possible 5 waves down off the top (impulse) with a divergent low on 10 minute so IF true watching for an a-b-c bounce for Fib retrace of the decline. Short term trend remains down (surprises occur in trend direction)
PROJECT, MONITOR, and ADJUST
Decent bounce on SPX thus far off the divergent low pointed out below
SPX tags upper BB on 5 minute chart - took some off here on the bounce
Thanks Steve for such great analysis as always. Be interesting to see how the SPX reacts as it climbs back towards its 9EMA at 3225ish
Yes thanks - have to monitor that daily level which is now resistance
On the daily SPX, 20ema at 3188 may be a magnet near term.
SPY 60 min is bear flagging
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SPX 10 Potential Mapping
Posted by steve on 24th of Jul 2020 at 01:28 pm
$SPX - Chart Link- possible 5 waves down off the top (impulse) with a divergent low on 10 minute so IF true watching for an a-b-c bounce for Fib retrace of the decline. Short term trend remains down (surprises occur in trend direction)
PROJECT, MONITOR, and ADJUST
Decent bounce on SPX thus
Posted by steve on 24th of Jul 2020 at 02:03 pm
Decent bounce on SPX thus far off the divergent low pointed out below
SPX tags upper BB on
Posted by steve on 24th of Jul 2020 at 02:12 pm
SPX tags upper BB on 5 minute chart - took some off here on the bounce
Thanks Steve for such great
Posted by DK on 24th of Jul 2020 at 02:41 pm
Thanks Steve for such great analysis as always. Be interesting to see how the SPX reacts as it climbs back towards its 9EMA at 3225ish
Yes thanks - have to
Posted by steve on 24th of Jul 2020 at 03:18 pm
Yes thanks - have to monitor that daily level which is now resistance
On the daily SPX, 20ema
Posted by DK on 24th of Jul 2020 at 03:29 pm
On the daily SPX, 20ema at 3188 may be a magnet near term.
SPY 60 min is bear
Posted by roger on 24th of Jul 2020 at 03:30 pm
SPY 60 min is bear flagging