2024-01-16 - a daily price action after hour update - sp500
Good Morning,
sp500 is currently selling off during globex before the EU session but we are right at multiple support levels and the daily 20ema. If bulls can hold it above 4770, odds favor continuation of the trading range and we might go up to at least 4800 again. If bears can push this below, next target would be 4750 for me. There market has a chance to form a inv SHS or go straight to last weeks lows at 4700.
sp500 is currently selling off during globex before the EU session but we are right at multiple support levels and the daily 20ema. If bulls can hold it above 4770, odds favor continuation of the trading range and we might go up to at least 4800 again. If bears can push this below, next target would be 4750 for me. There market has a chance to form a inv SHS or go straight to last weeks lows at 4700.
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