SPX from current level formed a double top and with history of price aciton repeating weekly RSI oversold a confluence with double top ,Fed hinting a rate cut all giving a sign of fall with 15 percent fall it will test 4100 area ,25 percent will test 3600 area. My view is not to go long any negative price action here on current level short market can hold until gives a change of character to bullish.
I gave my view and probability any views on the same please comment.
I gave my view and probability any views on the same please comment.
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correction it is overbought not oversold mentioned in chart and above comment section, Sorry for confusion.
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Updated One
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Double Top failed to held for downside now 4700 area will act as support earlier it was resistance.
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