It's been a great rally from the December lows but it seems now to have fizzled out, not a failure because it is now 300 SPX points higher, but the market has stalled.
Tomorrow is do or die for the bulls.
This is the SPX hourly chart, daily close just below the NO-BS cyan line, 20ma, and 50ma
Daily SPX chart can be interpreted as either bullish consolidation or ST topping in progress.
FED should be dovish, and even more precise, in order to convey the message: interest rate hikes are data dependent (that means none in the near future) and QT is now over, or on hold.
Markets should rally, real hard, with this from the FED, but lately there seems to be doubts & worries and questions about the FED, e.g. why is the FED so DOVISH? Is there something really bad that the FED knows and the rest of us don't?
APPLE earnings are not as good as the market thinks....
; this is not a MA "system" but if you buy or sell above or below that NO-BS cyan line you will be in sync with the market.