SPX - Lets see at which direction we are going

2 Sep 2022

SPX is always important to look at as it provides us with the most valuable information - In which direction financial markets will go.

Currently, we can see paranormal volume at the retest of the 3910 level, meaning that we are not ready to go further down yet.
At top we are squeezed with 4200 level which is acting as resistance. We did false breakout and came back to the zone of accumulation between those two levels.

SPX is trading in this range for 37 days and looks like it's still not enough for big boys to accumulate their positions. As soon as they will be ready we will go.
But for now, I advice you to trade in this zone, take local trendline breakups, and bounces.
Don't trade in the middle of the zone as it is the most unpredictable place for the price.

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P.S. Always do your own analysis before a trade. Put a stop loss. Fix profit in parts. Withdraw profits in fiat and reward yourself and your loved ones