Re: sp500 *PIC*

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Re: sp500 *PIC*

In Response To: Re: sp500 ()

my 2 ct's. fwiw simply reading price action

On a 4 hr.- 6/3 low to 7/26 high we've retraced 38.2% (2916) (green line on the 1 hr. chart).

We first need to see some type of ending action on a 60 min time frame (a spring, sot, followed by a buying bar).

Were reacting from a monthly danger zone (chart posted earlier).
This is the 1st area of support, next -50% (2881) & -61.8% (2846).

With a monthly sot in the background, we may need to go lower to find demand.

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Re: sp500 *PIC*