SPX: The Beginning of a Dead Cat Bounce.

• The SPX is reacting today, as it is trying to break yesterday’s high and the resistance at 4,015 (red line);
• If it stays above this area, the index might bounce again, and retest the next resistance area around 4,060;
• The 4,060 was a previous support level, and it is where the 21 ema is right now, making this a dual-resistance area in the daily chart;
• As long as the index remains below these resistances the bearish bias will persist, and any bounce could be just a Dead Cat Bounce;
• In order for the index to reverse the bearish sentiment, it is important to see clear bullish reversal structures, and so far, there’s none.

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