SPX is fighting to get above SMA 120 at this moment (1283.5). EMAs are touching each other, maybe crossing a little bit if you zoom in, but it's too close to call it right now.
Anyway, if SPX stays like this (1283) or is closing bellow 1283 we may see a "sell" signal. Ideally the market needs to close flat or a little bit in red to get a good "sell" signal. If this happens we are going to see a confirmation from daily DMI that is slightly green at the moment. Let's not rush! Patience pays!
I'll come with more updates later.
2:25 pm update
Bearish EMAs crossing despite 7 points on the upside. If market closes bellow SMA 120 (1283.5) the "sell" signal is going to be confirmed.
babaro
Anyway, if SPX stays like this (1283) or is closing bellow 1283 we may see a "sell" signal. Ideally the market needs to close flat or a little bit in red to get a good "sell" signal. If this happens we are going to see a confirmation from daily DMI that is slightly green at the moment. Let's not rush! Patience pays!
I'll come with more updates later.
2:25 pm update
Bearish EMAs crossing despite 7 points on the upside. If market closes bellow SMA 120 (1283.5) the "sell" signal is going to be confirmed.
babaro
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