SPX Daily Chart - The bearish engulfing candle marked the top
The bearish engulfing candle marked the top, as I posted the day it appeared when compared the setup with previous occurrences.
As mentioned over the weekend, the synchronicity of Fibonacci retracements in the $S&P 500(.SPX)$ , and $NASDAQ 100(NDX)$ + $DJIA(.DJI)$, reaching strong annual resistance levels was noteworthy.
Can the weekly S/R level at $5260 hold as support? Perhaps. The oscillator suggests the move might not be complete.
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https://x.com/SmartReversals/status/1795965118674620892
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- FranklinMorley·05-30The oscillator suggests the move may not be done yet.LikeReport