S&P 500 IndexShort
A major Bearish Reversal in the SPY ?
Observation on the 3rd of Feb
1) Formation for a Evening Star with Gaps on both side .
This signifies a very bearish indication .
2) MACD is flat and RSI is down . Indicating bearish momentum
3) There have been 6 Volume Selling days ( V1-V6 ) this year .
4) Reversal on conjunction of two Trend Lines
How far will the market go down ?
Hard to tell but with Oil going up and Bond Yields also going up we need to be
Concerned .
1) Formation for a Evening Star with Gaps on both side .
This signifies a very bearish indication .
2) MACD is flat and RSI is down . Indicating bearish momentum
3) There have been 6 Volume Selling days ( V1-V6 ) this year .
4) Reversal on conjunction of two Trend Lines
How far will the market go down ?
Hard to tell but with Oil going up and Bond Yields also going up we need to be
Concerned .
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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.