Just a quick sum up that the S&P500 has already broken down...
1. The top was a bearish engulfing that wiped out a weeks worth of gains in a single session.
2. System (ATISver5) is bearish with Sell signal qualified.
3. MACD crossed down.
4. Technical rebound failed at 3400, the previous top n February 2020, making a Lower High.
5. MACD crossed over into bear territory, below zero.
6. A Lower Low was just made, with the lowest close in September.
Next two weeks should see 3120, by the end of September, just to target the downside... with a possible bounce about 3230.
Noted a week ago, it was already clear, perhaps now is clearer.
1. The top was a bearish engulfing that wiped out a weeks worth of gains in a single session.
2. System (ATISver5) is bearish with Sell signal qualified.
3. MACD crossed down.
4. Technical rebound failed at 3400, the previous top n February 2020, making a Lower High.
5. MACD crossed over into bear territory, below zero.
6. A Lower Low was just made, with the lowest close in September.
Next two weeks should see 3120, by the end of September, just to target the downside... with a possible bounce about 3230.
Noted a week ago, it was already clear, perhaps now is clearer.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.