SPX Rejection of 0.382 Fib and Bear Flag Forming
SPX has rejected the 0.382 fib level from our Jan 4 high to our Jan 24 low. This often signifies a failed reversal attempt and buyer exhaustion, thus forming a higher low within the current downward trend.
SPX also appears to be forming a bear flag, further strengthening the downtrend thesis.
Stay frosty out there.
SPX also appears to be forming a bear flag, further strengthening the downtrend thesis.
Stay frosty out there.
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