$SPX Once again the 20DMA is tested, $NDX Retest of the 5DMA
1. $.SPX(.SPX)$ - Once again the 20DMA is tested, 6 days in a row on the edge.
The candle is bearish, and as of 4:20PM the reaction to $Microsoft(MSFT)$ earnings slightly positive but not as explosive as with $Tesla Motors(TSLA)$ or $Alphabet(GOOG)$ $Alphabet(GOOGL)$, so technically speaking the cautionary mode is key.
Buying here is risky. Fast oscillators are halfway to oversold levels, a potential pullback will be oversold relatively quickly.
Image
2. $NASDAQ 100(NDX)$ - Retest of the 5DMA, but it will be breached tomorrow: The decline is not technically surprising for $Meta Platforms, Inc.(META)$ , but for $Microsoft(MSFT)$ a potential bullish reversal is being invalidated.
The 4H chart warned about this as zoomed in - See more details open for everyone in the latest publication, link in profile⤴️.
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.
