S&P finding resistance at top of channel
Diupdate
US500 (includes extended hours) showing resistance at top of the down channel started at the beginning of 2022. Is it time to breakout or is it more down? I say down, but I am hedging both ways.
Catatan
End of day Tuesday. Rejected off of channel resistance, but still above 200 day SMA. Look for a break down below the 200d to confirm continued downtrend (see Dec 5th), else look for rally off of 200 this week.Catatan
Not a great sign to see the selling today as S&P lost 200 day. Same pattern as Dec 5th. Now will the 20 day provide support? Unlikely, but look to see if it breaks clearly below for confirmation.Catatan
Not a great start to Thursday. Another red candle pushing down deep into the 20 day SMA.
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