$SPX - The 2H chart may bring a hiccup
$S&P 500(.SPX)$ - Daily Chart:
Monday: 5 DMA is resistance
Tuesday: 5 DMA jumped & 50 DMA is resistance
Wednesday: 50 DMA jumped & 20 DMA is resistance
Thursday: 20 DMA jumped as all the MAs
The 2H chart may bring a hiccup tomorrow, but the oscillator is far from overbought and this chart looks quite bullish as said yesterday.
What if there is no rate cut next week? I know, that’s too provocative, but it wouldn’t be bad for the market. For now, forget 50 bps, and that is good.
Image
https://x.com/SmartReversals/status/1834334973509443797
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