Update: Still Predominantly Bearish; Caution | $XLF $SPDR $AMEX

Friends,

On February 01st, we released this DAILY chart with a "Neutral" directional bias pending a bearish market reversal confirmation signal. This signal has yet to come, however, at that time, we highlighted two significant overhead resistance, one at 21.84 representing a probable level of reversal, and a second at 22.16, representing a historical structure high, which if transgressed, would invalidate our bearish outlook.

OVERALL:
Bearish target remains intact. overhead resistance levels remain valid. Directional bias is neutral-to-bearish.

Cheers,


David Alcindor | 4xQuad
Predictive Analysis & Forecasting
Denver, Colorado, USA

PS: Here is a weekly SPX chart worth considering:
tradingview.com/e/GK5wJ5WN/


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Disclaimer: All of our analyses are for educational purpose only. The forecasts, analyses and opinions generated herein are not trading recommendations. We trust that you would do your own due diligence first, then seek professional advice from a licensed professional and enter the market at your own perils - David Alcindor - a.k.a.: 4xForecaster | 4xQuad, LLC.