đź‘€ S&P500 - Inflation vs Fed.Reserve. 1D chart. Observations
Hello everyone! Today is a big day. Fed Reserve is going to make decision about rate hike. And whats todays structure on SP500?
1. We saw how we lose demand line of the big channel in January. We stopped at 4200.
2. Tried to rally. Result - inability to return into channel. That is bearish
3. Then we rallied down, made LL.
4. After that all bulls tryouts have been declined despite of good demand came in, Result is bad.
5. Moreover, We want to admit that we havent seen good result (price action: momentum, big spreads) from bears yet too. At the moment we try to go lower and it seems like all demand that came in during that 2 month in this trading range have been absorbed...
Thank you for reading. What are your thoughts? Write it down in comment section.
1. We saw how we lose demand line of the big channel in January. We stopped at 4200.
2. Tried to rally. Result - inability to return into channel. That is bearish
3. Then we rallied down, made LL.
4. After that all bulls tryouts have been declined despite of good demand came in, Result is bad.
5. Moreover, We want to admit that we havent seen good result (price action: momentum, big spreads) from bears yet too. At the moment we try to go lower and it seems like all demand that came in during that 2 month in this trading range have been absorbed...
Thank you for reading. What are your thoughts? Write it down in comment section.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.