SPX: Time to panic-sell?

2021年7月15日

Hello traders and investors! Let’s see how the index is doing today! Will it crash this time? We’ll see.

Yes, we are finally doing a lower high/low in the 1h chart, which was the main condition for us to see a pullback in the mid-term. However, the movement is quite slow, and there’s still time for a bullish reaction around, so, we need to be careful here.

But if it confirms a bearish top under the 4,366 then the odds are that we will fill the gap at 4,322. This is a bearish reversal in the short-term, which can cause a pullback in the mid-term:



The daily chart is not bearish at all and still have a series of higher highs/lows, and pullbacks to the 21 ema are always opportunities to buy.

The 21 ema is at 4,313, very close to the gap in the 1h chart, and between the gap and the previous support in the daily chart, at 4,289. All of these points are key points for us to work with, and together, they are a good support area for the index.

It would be good if we seek this price level again, as in a bull trend, pullbacks are healthy, and we’ll see plenty of opportunities again. For now, let’s wait a little bit more.

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Thank you very much!