The S&P500 (SPX) is having a strong pull-back on the short-term following Powell's remarks during the Press Conference on the Fed's future policy in the aftermath of the +0.75% Rate Hike.
The RSI on the 4H time-frame dropped below the 30.000 oversold barrier intraday but that alone has proven to mean nothing in terms of buying power. As you see, every time the RSI turned oversold since June, the price dropped lower eventually. The only signal that has been causing a confirmed rise is a break above the 4H MA50 (blue trend-line), which has caused price rises ranging from +2.26% to +5.18%.
Right now the price is even below the 4H MA200 (orange trend-line) which is making things worse and as a Channel Down is forming, we may see a slight bounce and then Lower Low as per this data sample since June. If a 4H MA50 breaks happens now, a minimum of +2.26% rise would hit 3925 while a maximum of +5.18% would hit 4040.
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The RSI on the 4H time-frame dropped below the 30.000 oversold barrier intraday but that alone has proven to mean nothing in terms of buying power. As you see, every time the RSI turned oversold since June, the price dropped lower eventually. The only signal that has been causing a confirmed rise is a break above the 4H MA50 (blue trend-line), which has caused price rises ranging from +2.26% to +5.18%.
Right now the price is even below the 4H MA200 (orange trend-line) which is making things worse and as a Channel Down is forming, we may see a slight bounce and then Lower Low as per this data sample since June. If a 4H MA50 breaks happens now, a minimum of +2.26% rise would hit 3925 while a maximum of +5.18% would hit 4040.
-------------------------------------------------------------------------------
** Please LIKE 👍, SUBSCRIBE ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support me, keep the content here free and allow the idea to reach as many people as possible. **
-------------------------------------------------------------------------------
You may also TELL ME 🙋♀️🙋♂️ in the comments section which symbol you want me to analyze next and on which time-frame. The one with the most posts will be published tomorrow! 👏🎁
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I trade Crypto, Forex, Indices & Commodities on PrimeXBT — all from one account with TradingView charts 👉 tradingshot.short.gy/PrimeXBT
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I trade Crypto, Forex, Indices & Commodities on PrimeXBT — all from one account with TradingView charts 👉 tradingshot.short.gy/PrimeXBT
I also use TradeNation for fixed spreads & zero commission 👉 tradingshot.short.gy/Tradenation
I also use TradeNation for fixed spreads & zero commission 👉 tradingshot.short.gy/Tradenation
免责声明
这些信息和出版物并非旨在提供，也不构成TradingView提供或认可的任何形式的财务、投资、交易或其他类型的建议或推荐。请阅读使用条款了解更多信息。