we point out that the current SPX levels is as high as they were in late May, however MRI levels were higher, then.
we were also unable to test WMA200 in daily chart, something we're doing right now.
this could be a divergence, or SPX could be front running our MRI.
in case SPX is a front runner, we'd expect a side way move withing the depicted gray box, just above the WMA200.
in case it's a divergence, that would suggest a bull trap instead of a bull run. thus, we'd expect a false WMA200 breakout, topping most likely at the top of the box, reversing afterwards.
thank you for your attention.
best regards.
we were also unable to test WMA200 in daily chart, something we're doing right now.
this could be a divergence, or SPX could be front running our MRI.
in case SPX is a front runner, we'd expect a side way move withing the depicted gray box, just above the WMA200.
in case it's a divergence, that would suggest a bull trap instead of a bull run. thus, we'd expect a false WMA200 breakout, topping most likely at the top of the box, reversing afterwards.
thank you for your attention.
best regards.