SPX500 continues its rally in pre-market trading reaching $3009 level. The index is overbought on 4 Hr chart, with Daily chart showing little movement. A pullback may be needed to keep it going higher. We may expect a double top formation on 4 Hr chart before RSI correction into 30 territory.
RSI momentum is pointing toward higher prices (near-term). Chande Momentum, however, is indicating potential for near-term correction within its recent trading range.
RSI momentum is pointing toward higher prices (near-term). Chande Momentum, however, is indicating potential for near-term correction within its recent trading range.