$SPX - Risky market for leveraged longs

2024-12-07

$.SPX(.SPX)$ - What's going to be the bouncer for the upcoming pullback?

100 DMA was in September, 50DMA in October, 20DMA in November... will the 10DMA be touched in December?

Price action highlighted by blue arrows is showing signs of consolidation, also the Stochastic which sealed the bearish cross. A 5DMA breach is a good reference to expect a trend reversal. December won't be a straight line up.

The SPX neared a significant annual resistance, macro indicators are suggesting caution, will the prospects of a rate cut based in the latest jobs report fuel more upside? What if a sell the news event comes?

Risky market for leveraged longs.

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Surfing The Markets
2024-12-07
Surfing The Markets
Tag of weekly rsi at 77 points will confirm macro leftside top for indicies
KSR
2024-12-07
KSR
👍

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