The S&P 500 Index (SPX) is trading within a descending channel.
Lower highs and lower lows.
These signals point to lower prices.
Conditions for change
The SPX needs to break and close above 3970 daily to reconsider bullish potential.
A close above 4100 is needed to move ahead.
Any trading below 4100 and the bearish potential we are seeing now stays in play.
Namaste.
Lower highs and lower lows.
- The RSI has gone below 50.
- QStick also showing bearish signals.
- Multiple sessions closed below EMA10 and EMA21.
- Decreasing trading volume.
- Bad news incoming 13-14 Dec.
- Other major indices also turning bearish.
These signals point to lower prices.
Conditions for change
The SPX needs to break and close above 3970 daily to reconsider bullish potential.
A close above 4100 is needed to move ahead.
Any trading below 4100 and the bearish potential we are seeing now stays in play.
Namaste.
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🚨 FREE PREMIUM Trades + Top Results
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🚨 FREE Quality Content + New Results
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t.me/masteranandatrades/6172
🚨 Go beyond! PREMIUM LIFETIME Access
lamatrades.com (Since 2017)
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🚨 FREE Quality Content + New Results
(Frequent Discounts & Offers)
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🚨 Go beyond! PREMIUM LIFETIME Access
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.