06072023 - #SPX
SPX was rather weak, though NDX rallied, DJIA sold off, thus SPX was somewhere in between. It dipped down to the 4431 or so price, did rally back up to PZ but that strong PZ held any further rallies, before it came down again on FOMC meeting minutes.
The daily candle for SPX is somewhat bearish; could see a retest of the lows. Price opened within the PZ but had came off it and is now nearing the BZ. TBH, if market is to go down further, I would prefer a move up first, to re-test and get rejected within yesterday's candle for further down but now, price is moving down first.
4433 would likely be a level of focus, as it is a support level and also where yesterday's low is. If Europe opens near that 4433 level with bullish divergence, would like to look for a possible long to 4445-47 and even 4459. But if 4459 trades today, will look for shorts down to 4445.
The daily candle for SPX is somewhat bearish; could see a retest of the lows. Price opened within the PZ but had came off it and is now nearing the BZ. TBH, if market is to go down further, I would prefer a move up first, to re-test and get rejected within yesterday's candle for further down but now, price is moving down first.
4433 would likely be a level of focus, as it is a support level and also where yesterday's low is. If Europe opens near that 4433 level with bullish divergence, would like to look for a possible long to 4445-47 and even 4459. But if 4459 trades today, will look for shorts down to 4445.
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