SPX Daily & The MACD Armageddon Signal
We know the bears have the upper-hand, short-term, on the S&P 500 Index as prices continue to decline.
We can see a failed bounce attempt that ended up below EMA50 as a lower high while on Friday we saw another drop that pushed the SPX below MA200.
Now the MACD.
We have bearish divergence since November...
Actually, we have a long-term bearish divergence with the MACD since June 2020.
In November 2021, the SPX and MACD started to diverge again to show that we reached a top.
What I wanted to show you is the lower lows and break below support on the MACD:
This support held nicely for the better part of 21 years and finally broke.
This might not look like much, but the only time this support level was broken on the daily MACD for the SPX was back in early 2020 and we can easily see what went on.
Feel free to share your views in the comments section below.
Hit LIKE & FOLLOW.
Thanks a lot for your support.
Namaste.
We can see a failed bounce attempt that ended up below EMA50 as a lower high while on Friday we saw another drop that pushed the SPX below MA200.
Now the MACD.
We have bearish divergence since November...
Actually, we have a long-term bearish divergence with the MACD since June 2020.
In November 2021, the SPX and MACD started to diverge again to show that we reached a top.
What I wanted to show you is the lower lows and break below support on the MACD:
This support held nicely for the better part of 21 years and finally broke.
This might not look like much, but the only time this support level was broken on the daily MACD for the SPX was back in early 2020 and we can easily see what went on.
Feel free to share your views in the comments section below.
Hit LIKE & FOLLOW.
Thanks a lot for your support.
Namaste.
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