Friday, August 23, 2019

SPX - 2 HRQUICK UPDATE: Shown above is the 2 hour chart, and related levels (notated in blue) for the S&P 500 (SPX). It is what you would expect considering the tight range. From a DeMark perspective, the top blue line represents the 2934.05 TD Risk level on a 60 min basis. Breaking out above 2934.05 could induce a rally to challenge 3000. But since it is working with a TD Risk level on the 60 min SPX, it is best to reevaluate if the 60 min SPX chart is able to record a TD Sell Setup @9. The next level below is the 2888.58 TDST Support level on a 30 min basis. Break below with a TD Buy Setup @1, @2, or @3, would make it probable the SPX could see 2850 in short order. The last bottom levels represent the 60 min TDST Support at 2847.21 and 120 min TDST Support at 2844.46. Break below these would reinforce the notion the market is ready for another leg lower.


 

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2 Responses to Friday, August 23, 2019

  1. Gary says:

    Thanks, Art – appreciate it.

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