SPX500 About to freefall?
I see a lot of hopeful analysis that predicts bullish behavior in the coming months but I don't see that playing out. The RSI has never risen above 60 (except to clip 61 for two days) which indicates the downtrend may be continuing. Also, a loose, but still viable, bearish Gartley seems to have appeared. Upward momentum seems to be dried up and the test of the 200-day EMA seems to have been failed. There still a lot to see play out, but I'm thinking short for the foreseeable future, but will leave room for doubt based on how strong resistance will by at the 50-day MA's. Final target price looks to be as low as 1765.
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