Monday, January 13, 2020

SPX - 2hr

While the S&P 500 (SPX) ended the week without recording a qualified TD Combo Sell @13 on the daily chart, there enough weakness during last Friday’s session to produce  bearish engulfing patterns on many indices. From the two hour SPX chart above, it recorded a simultaneous TD Sell Setup @9 and TD Combo Sell @13, and a minor selloff ensued. If it continues, the 3236.67 TDST Support level is the first level of defense. A qualified break below 3236.67 will strengthen the idea the market is ready to work off the bullish excesses on a grander timeframe.


This entry was posted in Uncategorized. Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s