SPX - Prices can fluctuate around a level
$S&P 500(.SPX)$ Prices can fluctuate around a level, as it happened this week around $5478, that's why I provide seven layers. Each person can choose the level that best suits their risk tolerance.
As traders there is always the temptation to buy exactly at the low or selling at the top, that can be done a couple of times, but this was a choppy week consistent with CPI news and confirmations are a good reference to avoid fake moves. I use 4H and 2H when there is chop in play.
The SPX closed in bullish mode, there is an indecision candle in the latest 4H and 2H timeframes, a breather can come on Monday, but watch the bullish MACD crossover and the Stochastic has not completed its move. This setup looks like eyeing the first monthly resistance level presented below.
https://smartreversals.substack.com/p/s-r-levels-sep-16-20?utm_source=profile&utm_medium=reader2
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