💬 Consider the long term outlook for an interesting asset #SPX (1D)

#SPX

Price has approached the key 0.95-1.00$ range and is already giving a reaction. So far the market looks overheated, but the inertia is strong. A final shot up amid liquidations followed by a reversal is quite possible.

📉 If it fails to hold the 0.85$ level, we may quickly dive to 0.66$, where buying interest may intensify.

📈 If held, another upward impulse is likely with a move above 1.00$, but without consolidation.

A break down opens the way to the 0.45-0.50$ zone, where liquidity is often taken from for a new cycle. Intraday behavior is critical now - too many positions in the market. If I were a buyer, I would consider only a pullback to the zone of interest. If I were a seller, I would prepare for partial fixation or search for an entry with a short stop after a false breakdown.

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