SPX is in a bearish regime.

The uptrend has broken. There was a failure at the 62 fib. RSI never hit overbought and the RSI uptrend has broken. Plenty of room on the downside until over sold conditions are hit. MACD has crossed. These are not signs of a bull market. All signs point to a further move down.
ESshortSPX (S&P 500 Index)SPDR S&P 500 ETF (SPY) Trend Analysis

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