Looks like the SPX has set the stage for a head & shoulders bottom reversal, of course looking to see true confirmation in today's price action. Should be a very pivotal moment in the SPX. Keeping an eye on key region of 2800-2815 if the right shoulder truly forms, and also keeping a close watch on that support level of 2620ish... if broken this could pave the path for another leg down.
RSI implying that we're in quite a oversold situation going into the shoulder, which hopefully means there's some juice left in the tank for a strong reversal.
RSI implying that we're in quite a oversold situation going into the shoulder, which hopefully means there's some juice left in the tank for a strong reversal.
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