Hi guys,
Today I have brought you the SPX.
Now, the SPX is nicely moving higher in its trend channel with higher highs and higher lows. But the move looks very stretched in my opinion and I think a pullback lower can be following soon. So we need to be a little bit careful at this time.
The black lines are showing my primary view. I am looking for another small high before a bigger pullback should come into the market. We are also very close to its all-time peak. Or the red line shows you my alternative view where the SPX is already in the progress of a bigger correction lower. Historically, speaking the SPX is moving significantly lower in the months of the end of July/ starting August. So I would not be surprised that we can see a big pullback lower in the following weeks. Time will tell at this stage. Hope this helps.
Cheers and trade with care
Disclaimer: Trading is about going with the highest probability, nobody is 100% right and we need to protect ourself in case we are wrong. That is why we need to always use a stop-loss when trading. Trade with care. This my current view, and any view present is not a trading recommendation just personal view.
Today I have brought you the SPX.
Now, the SPX is nicely moving higher in its trend channel with higher highs and higher lows. But the move looks very stretched in my opinion and I think a pullback lower can be following soon. So we need to be a little bit careful at this time.
The black lines are showing my primary view. I am looking for another small high before a bigger pullback should come into the market. We are also very close to its all-time peak. Or the red line shows you my alternative view where the SPX is already in the progress of a bigger correction lower. Historically, speaking the SPX is moving significantly lower in the months of the end of July/ starting August. So I would not be surprised that we can see a big pullback lower in the following weeks. Time will tell at this stage. Hope this helps.
Cheers and trade with care
Disclaimer: Trading is about going with the highest probability, nobody is 100% right and we need to protect ourself in case we are wrong. That is why we need to always use a stop-loss when trading. Trade with care. This my current view, and any view present is not a trading recommendation just personal view.
