SPX has broken down ascending wedge, more downside probable
Updated
After 11 days of consecutive green candles we finaly see our first red candle.
With this we directly break down our ascending wegde, indicating more downwards movement might follow.
The next two days will be critical to confirm this idea.
With this we directly break down our ascending wegde, indicating more downwards movement might follow.
The next two days will be critical to confirm this idea.
Note
Against my expectations the markets have continued to rally higher.Altough now the rally seems to be losing momentum, looking at the MACD & RSI
It could be that the results from this quarter + the important FED talks extended this rally (but that's just a hypothesis)
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