SPX Daily Bearish Signals
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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