$SPX - Support at the 20DMA
$.SPX(.SPX)$ - Support at the 20DMA
The daily candle isn't a bullish reversal one, but the 4H timeframe does suggest so. $Tesla Motors(TSLA)$ Jumped as expected🎯, and it will influence the market tomorrow, so the odds for a bounce in SPX and $NASDAQ 100(NDX)$ based on the 4H chart are significant.
The week is still expected to close in the red or with a doji in the best case scenario.
Image
Early, SPX - McClellan Oscillator
Mentioned yesterday in the SPX post that breadth deteriorated in a significant way, the McClellan Oscillator moved down by -81%. It will be interesting when the pullback comes, this oscillator is already at -34, and oversold levels begin at -70.
Image
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
