SPX Conventional TA Confirms Correction
The correction we have been seeing for a long while now has been "confirmed" by the conventional analysts... I think they use a 10% threshold...
For us the correction started once prices broke and closed below EMA10/50.
Confirmation happened at the double rejection on the EMA50 magenta line (marked yellow).
Now, we have a many red candles, a falling window and bearish indicators.. This all points lower.
Additional details on the chart.
Conditions for change
The falling window is the main resistance short-term, the first level to conquer if the bullish want back in the game.
Thank you for reading.
Namaste.
For us the correction started once prices broke and closed below EMA10/50.
Confirmation happened at the double rejection on the EMA50 magenta line (marked yellow).
Now, we have a many red candles, a falling window and bearish indicators.. This all points lower.
Additional details on the chart.
Conditions for change
The falling window is the main resistance short-term, the first level to conquer if the bullish want back in the game.
Thank you for reading.
Namaste.
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