$SPX - Marginal Decline Finding Support at the 20DMA

SmartReversals
12-18

$.SPX(.SPX)$ - Marginal Decline Finding Support at the 20DMA:

⚠️ $Cboe Volatility Index(VIX)$ roared +7.22% today but the index printed a shallow move with a potential reversal candle.

⚠️ $NVIDIA(NVDA)$ continues building on its bearish setup shared in the weekly compass, while $Microsoft(MSFT)$ $Apple(AAPL)$ $Tesla Motors(TSLA)$ are the giants holding the market✅.

ℹ️Most of sectors declined but $Consumer Discretionary Select Sector SPDR Fund(XLY)$

✅Check the daily reversal candle for $Energy Select Sector SPDR Fund(XLE)$ , it's screaming a bounce.

ℹ️Shorting is risky, and the resilience of this market is building a volume shelf charted in my post from yesterday.

⚠️What is concerning is the monthly doji in formation, if December doesn't provide clear resolution January can be a risk off period.

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