Just putting this out there but it requires confirmation next week.
The DAILY chart is hinting at a reversal of trend here but that is NOT an entry signal IMO. Here's why.
The two sideways green candles are good but far from enough as it needs to get to that yellow 8ema. The MACD indicator is an important momentum guide and if that can cross to the positive in combination with the SP closing above the 8ema then that is an entry signal IMO.
These need to be confirmed before any action is taken as the market might have other plans next week.
The shorter time frame charts back this up. You can see how the SP has closed above the yellow 8ema on the 30 min and there's been a cross of the 20ema. And the hourly is hinting to do the same.
Current short / hedge position.
Cheers
Charts, page-4786
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