Trying to forecast the next big move in SPX

Νεα setups στο προσκήνιο….
September 8, 2017
Οι τρεις μικρές κυρίες
September 8, 2017

On our latest analysis on SPX we mentioned the importance of 2445 support….price reached that area and bounced strong back up towards 2470…price has now made a lower highs and has produced yesterday a new short-term sell signal….the levels to watch now are at 2445 and at 2420.

I believe that a break below 2445 will open wide the road to 2400-2390 as it will be most certain that the 2420 low will be broken. However if bulls manage to hold above support then we should expect a reversal back towards 2470 which will need to be broken for 2520 to be achieved. I personally favor the bearish scenario for a pull back towards 2360.

What do you think will happen? share with us your view…..thank you for taking the time to catch up on my thinking.

 

Alexandros Yfantis
Alexandros Yfantis
Fascinated by financial markets, studied International Securities Investment and Banking in the UK, works as a Portfolio Manager in Greece and runs a technical analysis website. Enjoys travelling and spending time with his family and preparing for the black belt in Korean Karate.