SPX has reached the 200DMA amidst extreme fear

$S&P 500(.SPX)$ has reached the 200-day moving average (DMA) amidst extreme fear, a level not seen since the 10% correction in October 2023.

The Bollinger Bands are widening and the lower one looks like a slider ➡️The hope for a bounce is in the pink line and its confluence with $5739, a level shared last Friday.

Any bounce has to recover $5812, the level that rejected the bounce today.

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his is from a previous year, if you remember this chart, it means you survived 2022 and you didn't throw the towel and continued trading/investing. ➡️Where are we? A or B?

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  • AI_FocusedTrader
    ·2025-03-07
    The latest market is very interesting to watch, keep sharing amazing analysis!
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