SPX: Another failed bounce, and the current candle is bearish

SmartReversals
03-20

$S&P 500(.SPX)$ : Another failed bounce, and the current candle is bearish.

The Stochastic is turning downward, and rejection occurred again at the confluence of $5727 and the 200 DMA. Key moving averages to watch are the 200 DMA (bullish above) and the 10 DMA (bearish below).

Which will prevail?

$SPDR S&P 500 ETF Trust(SPY)$ $Invesco QQQ(QQQ)$ $VanEck Semiconductor ETF(SMH)$ $NVIDIA(NVDA)$

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And this is my last pridiction：

The 4H chart yesterday anticipated well the bounce. However, the rally faded after price neared $5,727, casting doubt on its sustainability. The bounce thesis is invalidated if $5,633 is breached.

Stochastic is curling down too early. Will price action make it to the 20DMA?

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Comments

  • DdAlpha1
    03-21
    DdAlpha1

    Great article, would you like to share it?

  • SENDI PERMANA
    03-20
    SENDI PERMANA
    Great article, would you like to share it?
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