$SPX Weekly Outlook: Neutral Bearish $QQQ $IWM $DJI
Here we are back again with another weekly look at the US Markets. SPX has rallied off the panic lows from Christmas Eve (which was called for) and is sitting right at 2600 resistance. The Outlook is neutral with a Besrish bias...
You can see the clear resistance lines of 2600 AND 2680. This resistance goes all the way back to 2017 and should be noted. IF you missed the first chance to sell at 2900 and then the break of 2760 then here is yet ANOTHER chance to sell.
The largest rallies happen in BEAR MARKETS, and do not let the media tell you otherwise.
We are below the 200 day MA and this is a bear right now until proven otherwise. Overall market are not bullish until 2689-2700 is taken back and held. You should be lightening up if you were long and selling things you DIDNT sell in Q3 when you were wishing you got another chance.
Give it a few days or weeks and I believe you see us heading back down...
Published by Hey I'm Snuffles
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