SPX Gap - Make or Break?
$.SPX(.SPX)$ Gap - Make or Break?
So far, the gap has acted as support. The Stochastic suggests this bounce should continue, and it needs to. Similar to the $NASDAQ 100(NDX)$ and $Invesco QQQ(QQQ)$ analysis in my previous post, a sequence of lower highs has begun, initiated by bearish doji stars like the one formed on Friday afternoon.
Invalidating that doji is crucial, as the 20DMA has now curled downwards, breaking the prior bullish trend.
A break below $588 would be a significant concern; above that level, a bounce remains possible. $SPDR S&P 500 ETF Trust(SPY)$
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- KSR·01-06 08:28👍1Report