DislikedSPX weekly chart, a good reminder that anything can happen! 10% fall from high at 3057 - first level for a position trade. 20% fall from high at 2718 - second level for a position trade Short term trading is off the table right now. {image}Ignored
Price reacted well from this level. If the daily and weekly stay above the 200 and 50ema's respectively at this point I would think a retrace to the 50% Fib retrace is probable. Price has sold off hard and fast and will need to correct.
Nil desperandum