After a month's amazing rally, S&P is OverBought (Yellow), as shown in "9 Seasons Rainbow Indicator", OverBought appears in 1H, 2H, 4H time frames.
Similar situation appeared on Oct 2018, the difference is the time frame level with OverBought is higher than this time.
In addition, S&P is touching the previous resistance. A pullback is coming.
Similar situation appeared on Oct 2018, the difference is the time frame level with OverBought is higher than this time.
In addition, S&P is touching the previous resistance. A pullback is coming.
Comentarios:
SPX500 is dumping as expected, perfect timing.
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A Trading Indicator Artisan and JAVA Programmer, dedicated to enhancing traders' productivity.
A Trading Indicator Artisan and JAVA Programmer, dedicated to enhancing traders' productivity.
This is only a personal opinion and does not serve as investment nor trading advice.
You should make their own decisions, carefully assess risks and be responsible for investment and trading activities.