the S&P 500 is on the 50% fibo at 4105, and not far from the last top at 4200 and the 61.8% fibo at 4223
If we go lower I think we will first have a short hunt above 4200 to 4223 and then we will see the reaction of the price in this area.
It is also possible to go above with a return to the Weekly uptrend, or simply go directly lower without taking the liquidity to the north.
Analysis to be completed with the DXY to see more clearly on the BTC!
https://www.tradingview.com/x/Imem5UF3/
The Dollar despite the decline still remains bullish above the MA 62.
From August 2021 to August 2022 so to today, the Dollar has been in a bull run, and each time we come below 50 on the RSI it has been a bottom or almost, and if we just take the bullish divergences on 10 times we had 8 bottoms, and twice not far from 1% to 0.5%
For the moment we are on the 68% fibo and not far from the MA 62 in confluence with the 77% fibo
The RSI is below 50 with a hidden bullish divergence to be confirmed via a green Daily candle on the Torys RSI indicator.
https://www.tradingview.com/x/GLmrt4Db/
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