SPX (S&P 500 Index) Charts
Daily $SPX chart as of December 19th close
A few positives when lines drawn like this (click to enlarge), and volume is down on “red” days. The negative – Bollinger Bands are very narrow, usually this doesn’t end well. And with lines drawn another way (desceding upper line), we have a bearish formation, instead of this bullish one.
And here’s SSO Weekly for comparison
Look at that volume 🙂 in the last couple of months! Again, a bunch of dojis forming, narrowing BBands, Stochastics are about to get overbought, without much advance.
I have no clue what’s going to happen, but leaning towards bearish side more than bullish. Not planning any trades before the New Year or until we get a sign about where this is going.