SPX overthrew the top TL before reversing and also back-tested that TL before heading lower again (highlighted on the chart).
Right now, SPX is testing the lower TL and it is critical to watch the reaction here.
Normally, after an overthrow and back-test one would be tempted to go all out bearish, but this market has proved with the current rally off the lows that it can turn seemingly bearish situations around. So a caution stance would be to wait for the lower TL to get broken before announcing the "all clear" for shorts.
Right now, SPX is testing the lower TL and it is critical to watch the reaction here.
Normally, after an overthrow and back-test one would be tempted to go all out bearish, but this market has proved with the current rally off the lows that it can turn seemingly bearish situations around. So a caution stance would be to wait for the lower TL to get broken before announcing the "all clear" for shorts.
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Publicaciones relacionadas
Exención de responsabilidad
La información y las publicaciones que ofrecemos, no implican ni constituyen un asesoramiento financiero, ni de inversión, trading o cualquier otro tipo de consejo o recomendación emitida o respaldada por TradingView. Puede obtener información adicional en las Condiciones de uso.