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Strategies & Market Trends : News Links and Chart Links

SPXL 222.94

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From: Les H	9/3/2022 9:46:52 AM
	of 29601

The closing on Friday, September 2nd, the S&P 500 (SPX) nearly reversed the entire rally that started the day before. In closing the week, the SPX did not take out the 3903.65 low. Therefore the bullish reversal on Thursday, September 1st, followed by the bearish reversal on Friday, September 2nd, keeps both sides open with the edge going to bearish side. From the 30 minute SPX chart above, as long as the 3906.06 TDST Support level for the 30 minute holds, the SPX is likely constructing a bottom. But it needs to take out the 10/15 minute TDST Resistance level at 4016.17 sooner than later. tradetrekker.wordpress.com

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