In the previous market analysis on the SPX, i talked about potential short-term selling opportunity at 4150 as price still find congestion around the previous S&R structure, which turned out to be a great trade.
For now since price again respected previous support turned resistance at 4150, I do expect a potential push downwards back to the previous swing low around 3850 - 3900.
No one can predict when will this 'Bear Market' ends, whilst its important for us to follow the trend.
Long-term wise S&P will eventually rise back to the all-time-high, temporarily i'd suggest you to focus on the short-term direction.
If you enjoy the content, make sure you follow my profile and give me a thumbs up for daily fx forecast & educational content.
Take care and trade safe.
All the content I've posted are for educational purposes, please perform your own research and only take it as a reference.
For now since price again respected previous support turned resistance at 4150, I do expect a potential push downwards back to the previous swing low around 3850 - 3900.
No one can predict when will this 'Bear Market' ends, whilst its important for us to follow the trend.
Long-term wise S&P will eventually rise back to the all-time-high, temporarily i'd suggest you to focus on the short-term direction.
If you enjoy the content, make sure you follow my profile and give me a thumbs up for daily fx forecast & educational content.
Take care and trade safe.
All the content I've posted are for educational purposes, please perform your own research and only take it as a reference.
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SPX Market Analysis
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