Looking At The MACD for The S&P 500 Index (Bearish Signal)
Let's have a look at the MACD for the S&P 500 Index.
In another article, I mentioned the fib. retracement level that has been working as support each time the SPX corrects.
We are at similar levels currently.
At the same, we looked at the possibility of additional bullish action based on the above-mentioned support always holding before.
Now, when we look at the MACD, another bearish signal is on.
Each time the SPX retrace was followed by bullish action the MACD was above the zero line, but when the MACD went below zero (Feb.) a strong drop followed.
Right now we have the MACD below zero and breaking support after support...
We are likely to experience a strong correction.
The SPX can drop strong if EMA100 breaks.
Namaste.
In another article, I mentioned the fib. retracement level that has been working as support each time the SPX corrects.
We are at similar levels currently.
At the same, we looked at the possibility of additional bullish action based on the above-mentioned support always holding before.
Now, when we look at the MACD, another bearish signal is on.
Each time the SPX retrace was followed by bullish action the MACD was above the zero line, but when the MACD went below zero (Feb.) a strong drop followed.
Right now we have the MACD below zero and breaking support after support...
We are likely to experience a strong correction.
The SPX can drop strong if EMA100 breaks.
Namaste.
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