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SPX Renko Chart = Bearish (~13% to 26% Potential Drop)
S&P 500 Index
Short
SPX Renko Chart = Bearish (~13% to 26% Potential Drop)
By AlanSantana
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Updated
May 12, 2022
1
6
Apr 14, 2022
The Renko chart for the S&P 500 Index (SPX) is now showing a sell signal.
This charting system is used exclusively to spot a trend.
We have the same candle pattern as back in February 2020 before a major correction.
This pattern came up again January 2022.
We can also draw the classic ABC EW correction here:
We are looking at a ~13% drop from the current price and up to 26% if things get really bad.
Namaste.
May 12, 2022
Note
First target hit.
Beyond Technical Analysis
index
renko
SPX (S&P 500 Index)
S&P 500 (SPX500)
spx500short
SPDR S&P 500 ETF (SPY)
Trend Analysis
Wave Analysis
AlanSantana
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