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S&P 500 Index
Short

Selloff Started

By MonetaryRebel
Updated
We've broken the major support line for our uptrend, implying that the bulls are no longer in power. Watch the weekly candle that will close soon. It looks like a bearish engulfing weekly candle that could engulf the last 2-3 weeks.

I am a bear. Keep that in mind, BUT, look at it!

(Not financial advice)
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If we close at this level we will have bearishly engulfed 8 weeks worth of price action. That's huge.
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Retesting the broken upward trend support that is now resistance
Chart PatternsindexTechnical IndicatorsSPX (S&P 500 Index)S&P 500 (SPX500)spx500shortSPDR S&P 500 ETF (SPY) spyshortTrend Analysis
MonetaryRebel

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