SPX is in Downtrend!
Updated
Unless a big reversal for the bull, the trend of the market is down!
So, more downside is coming!
So, more downside is coming!
Note
We see a big reversal for the bull unfortunately on Monday when it hits the red line, but future SP500USD did show the weakness today. I think this is another time that we are breaking it down. We go with the trend since it shows weakness, then we short. I think the second time we hit the red line, we will break it down. Only we see the strong reversal, we should exit or hold (if it is not an option, we should hold). Even strong reversal like Monday cannot stop the bigger downside (it move back to green line and coming back down).
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.