SPX Weekly Close is UGLY

in #forex15 days ago (edited)

Direct from the desk of Dane Williams,
This is not your average forex broker blog.




Last week we saw the SPX touch daily support.

It held up for a couple of days as the Fed pumped literally trillions of US Dollars into the system.

But Friday night's close looks mighty ugly on the daily chart.

SPX Daily:
image.png

Goodbye support.

Things look even more ugly on the weekly chart.

SPX Weekly:
image.png

Jesus.

What happens Monday morning is going to show where the markets are really at.

Best of probabilities to you,

Dane.




@forexbrokr | Hive Blog

Market Analyst and Forex Broker.

Twitter: @forexbrokr

www.forexbrokr.com

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Crazy week. 8 sigma selloff.

Glad to see you on Hive! Following.

I don't think this is anywhere near the bottom either.

Scary stuff really.

I wonder when the virus permits re-opening of most establishments and the economies start working again, will the insane amount of stimulus rocketlaunch us to 4000 SPX :P