S&P 500 IndexShort
Multiple bearish signs on SPX
Updated
After fed pumping the price to save the disaster now price reached the supply zone. but thats not all
there is others signs that make me think about an almost sure imminent dump.
To add more security on that impression there is a bearish harmonic , also a gigantesc bearish divergence on volume of MACD indicator and its also the point 5 of Elliot wave strategy
Price made smaller and smaller candles approaching the resistance , that means bulls are losing strenght within the impulse. I think the next attack from bears will reverse the trend
there is others signs that make me think about an almost sure imminent dump.
To add more security on that impression there is a bearish harmonic , also a gigantesc bearish divergence on volume of MACD indicator and its also the point 5 of Elliot wave strategy
Price made smaller and smaller candles approaching the resistance , that means bulls are losing strenght within the impulse. I think the next attack from bears will reverse the trend
Note
In 4h TF there is a kind of rounded top looking at price action.the last two candles was a bearish engulfing followed by a bearish hammer ( forming an inside bar), and it breaks downa short is possible from here
the analysis is confirmated by a macd 4h divergence and the moving averages are crossing
Trade active
point entry : 3317Stop loss : 3337
tp1: 3277
tp2:3237
tp3: 3197
Note
multiple entries will be possible.the final target is the demand zone but I think, price will break through it (fall further)
Note
dont forget to like if you agree with the chart, your support is valuable to me !
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