SP:SPX may try to create #wpattern or double bottom on daily / hourly time frames at important support zone of daily time frame, if it breaks below the support level, we can achieve the expected downside targets soon.
SP:SPX is gearing up for 10% free fall, it has followed the levels I mentioned in my last post with accuracy, from today onwards we can expect SPX to start down fall for 10% correction.
The price action formation on the SPX seems to be indicating that the market in the US could be taking a pause for now. Price had pulled back from all time highs recently, but now is seeing rejection from the 20EMA. If this trend continues we could see price correcting to the longer term trendline and then the 200EMA on the daily chart. A short position can be...
Head & Shoulder pattern observed in S&P 500 Index. Should the pattern confirm by breaching 2800 on closing basis, one can expect the index to fall towards 2645.
En route 2720 area is a visible support for shorts to be wary of.
