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Intriguing $SPX Chart | Key Levels 8/3



Even though I couldn't trade yesterday, I was reviewing a lot of charts last night and when I saw $SPX it looked very intriguing...


The last few days there has been a lot of consolidation, and it is very difficult to trade successfully in that type of market. There are a lot of outside factors that could potentially affect the market as well, including the whole Taiwan situation.


$SPX ended the day yesterday red, under VWAP and rejected a major daily level of that 4140. HOWEVER, it also got support from that 4082 level, it has been lowering volume on lowering price, has sort of a inverted hammer look to it, and also a bit of a bull flag look. All of which make this a bit bullish of a chart IMO.


Wait to see how the first few minutes of the day play out before making any plays.


Key levels for 8/3: Bull zone: 4107-4116 Target 1: 4124 Target 2: 4144 Target 3: 4152

Bear zone: 4074-4066 Target 1: 4057

Target 2: 4038

Target 3: 4030



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