S&P 500 Index Downward Pressure
The worst is yet to come, brace yourself.
The S&P 500 index is the TOP index in the USA and represents the state of the economy in this country... Things are not looking good.
We can see that the SPX has been printing bearish divergence with the MACD and RSI for a long-time, once these divergences are in a correction always follows.
The MACD peaked in May 2021, it followed with lower highs.
The SPX continued to print higher highs:
The RSI peaked 22-Jan. 2018, a multiple years long bearish divergence.
We can see lower highs while it continues to trend lower:
Now, as for the SPX prices are still trading above EMA50 (4327) which is the main support.
If this level holds, there can be a recovery.
Below this level, a very strong crash style March 2020 is expected.
We do not expect a bounce at EMA50 but instead a very strong crash.
This is repeating across multiple markets.
I will share the Nasdaq chart as well as the Dow Jones Industrial Averages and Bitcoin, all red.
Feel free to leave us a comment.
Namaste.
The S&P 500 index is the TOP index in the USA and represents the state of the economy in this country... Things are not looking good.
We can see that the SPX has been printing bearish divergence with the MACD and RSI for a long-time, once these divergences are in a correction always follows.
The MACD peaked in May 2021, it followed with lower highs.
The SPX continued to print higher highs:
The RSI peaked 22-Jan. 2018, a multiple years long bearish divergence.
We can see lower highs while it continues to trend lower:
Now, as for the SPX prices are still trading above EMA50 (4327) which is the main support.
If this level holds, there can be a recovery.
Below this level, a very strong crash style March 2020 is expected.
We do not expect a bounce at EMA50 but instead a very strong crash.
This is repeating across multiple markets.
I will share the Nasdaq chart as well as the Dow Jones Industrial Averages and Bitcoin, all red.
Feel free to leave us a comment.
Namaste.
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