US500 - Structure Analysis - Time For CorrectionUS500 - Structure Analysis - Time For Correction
US500 reached all time high at 5670.
Later we can see that the price began creating some small structure zones.
Considering that we are in the ER month many companies are reporting their Earnings and it looks like many sectors are struggling considering that indices are all moving down.
However it could be only a temporary correction.
Technical Analysis:
The price broke down from a strong support zone near 5496 and now turned into resistance.
The prices is holding well below this zone thus raising the chances for a bigger bearish wave
during the coming days.
I am expecting the price to face a strong support near 5450, 5400 and 5330
You may find more details in the chart!
Thank you and Good Luck!
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