SPX head & shoulders; broke EMAs; broke 3 resistance; Bear start
> Created a clear head and shoulders
> Broke 200 ema
> Broke several resistance points
> RSI lingers in undersold territory for 4 days now, no indication of bouncing back to 'normal range'
> VIX progressively hitting higher highs since September
> General market sentiment very low with pending rate rising, alongside a year of less $ stimulus, recognition of overvalued stocks, and eventual correction from "kicking the can down the road" in the greatest bull market ever
If we break the head and shoulder resistance, then we can expect a bit of upward trend- but nothing close to ATH imho. If we bounce from that resistance line, then a clear bear market has started.
> Broke 200 ema
> Broke several resistance points
> RSI lingers in undersold territory for 4 days now, no indication of bouncing back to 'normal range'
> VIX progressively hitting higher highs since September
> General market sentiment very low with pending rate rising, alongside a year of less $ stimulus, recognition of overvalued stocks, and eventual correction from "kicking the can down the road" in the greatest bull market ever
If we break the head and shoulder resistance, then we can expect a bit of upward trend- but nothing close to ATH imho. If we bounce from that resistance line, then a clear bear market has started.
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