spx500 lost the 1st round
We had a bad week in the US stock market.
- SPX lost all its SMA lines and closed below them.
- A big red candle happened and the volume confirmed it.
In my opinion, the good news is that the spx has already completed its phase 4 (bearish) and the lower area of 3500 has been found as the end of the bear market.
The bad news is, the market has lost the fight to start a new phase 2 (breakthrough).
As a result, the logical and slightly optimistic scenario is to stay in a range between the main horizontal areas of 3800 and 4100 for a while.
don't forget, "Market is Dynamic."
- SPX lost all its SMA lines and closed below them.
- A big red candle happened and the volume confirmed it.
In my opinion, the good news is that the spx has already completed its phase 4 (bearish) and the lower area of 3500 has been found as the end of the bear market.
The bad news is, the market has lost the fight to start a new phase 2 (breakthrough).
As a result, the logical and slightly optimistic scenario is to stay in a range between the main horizontal areas of 3800 and 4100 for a while.
don't forget, "Market is Dynamic."
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