SPX Outlook: Bullish Signs Despite Pullback Risks
@SmartReversals:
$S&P 500(.SPX)$ - $5636 remains as resistance level, rejecting the price for the third consecutive day.A pullback, filling the gap, would be a healthy development, it would be a likely scenario if $VIX stays above 16.13.However, exercise caution even if you're a bear. A bullish candlestick has formed on the 4-hour chart, and the 5-day moving average continues to support the price.Bullish above $5636 for a safer entry.Drop a 💚 for $NASDAQ 100(NDX)$ and $DJIA(.DJI)$ charts. $SPDR S&P 500 ETF Trust(SPY)$ $Invesco QQQ(QQQ)$ Imagehttps://x.com/SmartReversals/status/1828183457283