shivam94_007

SPX hitting a wall of resistances.

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shivam94_007 Atualizado   
SP:SPX   Índice S&P 500
Confluence of Resistances:
1. 200 day Simple Moving Average
2. Weekly Fib 0.382 retracement
3. Upper trend line of bearish Down sloping channel from ATH last year.
4. Daily Supply zone
Comentário:
Checking out the Logarithmic scale on SPX, I believe we may have still some upside potential before the eventual downside. Another 3-8% rally will start getting the bulls to be bullish and bears to start doubting if the bottom has already been put in on October 2022.


I strongly believe the downward surprise in earnings will be the catalyst for compression of the current P/E ratio of equities. I still remain net short until we confirm above the high of 4325.88 on SPX. Let me know what you guys think. Cheers.
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