PSChoong
2023-11-11

SPX DAILY HIGH

After a strong first leg out of what is likely the final low in the recent correction the SPX has formed a daily Swing high making a double top.

This is a natural place to reach Price and Time resistance, but since double tops usually fail during an uptrend, after a correction for a few days we should continue the uptrend.

Wait for the next correction bottom to come before adding positions again, if you haven't entered yet. First higher Low candle should give us some indication. 

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment