SPX - Consolidation process has started

SmartReversals
06-15

$S&P 500(.SPX)$ Price action is suggesting a horizontal entrance to the Bollinger range, today's first step held above $5409, a S/R level.

As long as $Cboe Volatility Index(VIX)$ continues below its 20DMA, the consolidation can be horizontal, even with a hot RSI (see previous occurrences). Needless to say that $5409 has to remain as support for SPX.

CPI injected fuel to the rally, in my previous post I indicated the access to a publication for everyone (free) related to inflation and interest rates.

Like and repost for more open for everyone publications.

$NASDAQ 100(NDX)$ $iShares Russell 2000 ETF(IWM)$ $NASDAQ(.IXIC)$ $iShares Russell 2000 ETF(IWM)$ $NVIDIA Corp(NVDA)$

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Comments

  • Ngkk91
    06-17
    Ngkk91

    Great article, would you like to share it?

  • Longlong49
    06-17
    Longlong49

    Great article, would you like to share it?

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