We have a horrible graphic pattern!

-The rise of the SPX index was incredible and left me with a little bit of envy in my heart. Honestly, I didn't expect that much. I was considering a rise to the region of 4372, and it came. She exceeded my expectations and even made a "pull back" in that same region. Incredible.

-But the type of graphic pattern that this "pull back" drew doesn't please me at all. To me it's scary, so the bulls will have to push hard if they want to make the index really go higher.

-The most recent upward movement (pivot) on the daily chart is confirmed, but the end of the line for prices could be the 4506 region.

-Below we have an image of the high pivot pointed by the "SETUP used" in the weekly chart, and it reached the golden region of FIB, with the right to the "pull back" mentioned, however, without much strength! The rectangular region marked on the chart represents medium and long-term positions, thus an important support region.

-Below I show you the high pivot of the monthly chart. It reached the dangerous 50% FIB region. This region has to be broken at any cost.

-Worth a read!

-Do your analysis and good business.
-Be Aware, If You Buy, Use Stop!
-See below for other graphic reviews!