SPX: Once again, did what was expected.
Hello traders and investors! Let’s see how the S&P is doing this Friday.
The signs are good, and the index is bullish for sure. Today it triggered the Piercing Line pattern we talked about yesterday, and it reinforces our bullish thesis.
It wasn’t only a Piercing Line pattern, but a pattern that appeared just above our dual-support level made by the purple trendline and the gap area at $ 4,369 (red line).
The index is looking good, and we have no pullback/reversal sign around. Let’s see the 1h chart:
We triggered the pivot point at $ 4,418, and we are once again above the 21 ema. The index has an open gap at $ 4,471 and the odds are that we’ll fill this gap in the short-term.
As long as we lack bullish structures in the 1h/D charts, nothing unusual will happen, and the trend will persist.
If you’ve read this far, remember to follow me to keep in touch with my daily updates. Have a good weekend!
The signs are good, and the index is bullish for sure. Today it triggered the Piercing Line pattern we talked about yesterday, and it reinforces our bullish thesis.
It wasn’t only a Piercing Line pattern, but a pattern that appeared just above our dual-support level made by the purple trendline and the gap area at $ 4,369 (red line).
The index is looking good, and we have no pullback/reversal sign around. Let’s see the 1h chart:
We triggered the pivot point at $ 4,418, and we are once again above the 21 ema. The index has an open gap at $ 4,471 and the odds are that we’ll fill this gap in the short-term.
As long as we lack bullish structures in the 1h/D charts, nothing unusual will happen, and the trend will persist.
If you’ve read this far, remember to follow me to keep in touch with my daily updates. Have a good weekend!
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