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Strategies & Market Trends : News Links and Chart Links

SPXL 220.68

+0.5%

Dec 2 4:00 PM EST

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From: Les H	7/30/2022 2:59:09 PM
	Read Replies (3) of 29601

Demark analysis Big market rally good enough to push the S&P 500 (SPX) to close July right at 4130.29 which is the designated level to include a long term bullish narrative as shown in the monthly chart. This makes August a make or break month. If the SPX can close above 4131.93 on August 31st, the SPX will price flip the monthly DeMark TD Sequential counts. A price flip by definition will halt the long term selling momentum and reset again. This will pivot the bearish outlook to include a neutral stance. Should the SPX close below 4130.29 on August 31st, the primary bearish narrative stays intact with lower low print below 3636.87 during September or October. tradetrekker.wordpress.com

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