S&P 500 Index Hits New All-Time High, Ready To Drop?
Updated
The S&P 500 Index (SPCFD) hit a new all-time high last week at 3258.1... This is very likely to be the top.
- Bearish divergence is visible with the MACD and RSI.
- The bearish close for last week's candle always results in a drop for the SPX. Whenever you get one red candle after multiple green candles, the candle that follows is always a drop, this is what I see coming next.
Additional information can be gotten by looking at the daily timeframe where these signals are more pronounced, especially the bearish divergence.
Let's see how the week starts for the S&P 500 Index (SPX/SPCFD). We are full bearish right now.
Take a look at Gold (XAUUSD) pretty bold.
And my latest Bitcoin article below:
Thanks a lot for reading.
Namaste.
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