S&P 500 Index Prepares To Go Lower, Much Lower...
Updated
Our last analysis for the SPX500USD marks the top. A clear drop followed and new signals are coming up telling us that this won't stop...
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Here you can see our previous analysis for the S&P 500 Index all-time high (This is not financial advice. All information shared by Alan Masters is for educational and entertainment purposes only):
Conditions for change: For the S&P 500 Index (SPX500USD) to change course, a strong close above EMA10 needs to happen, and at the same time the index needs to remain above it or grow from there.
What's your take on what will happen next?
Share your thoughts in the comments section below.
We appreciate the time you took to read this. Thanks a lot for your continued support.
Namaste.
Feel free to hit like to get started if you want to now... Thanks a lot for your support.
Here you can see our previous analysis for the S&P 500 Index all-time high (This is not financial advice. All information shared by Alan Masters is for educational and entertainment purposes only):
- EMA50 (magenta line) is the support that was holding the SPX500USD from going lower. After three attempts, it finally broke going all the way down to EMA100 (blue line).
Each time EMA100 is broken, we see massive bearish action. Daily candle is yet to close, so the above signal is only confirmed after trading day closes and it needs to be below EMA50 and EMA100 for this signal to be valid. - Trading volume growing massively after the top was hit. We have double and triple trading volume while bears are now taking the upper hand.
- The RSI crashed completely and is on the bearish side.
- The MACD is now entering the bearish zone and clearly bearish and moving lower.
Conditions for change: For the S&P 500 Index (SPX500USD) to change course, a strong close above EMA10 needs to happen, and at the same time the index needs to remain above it or grow from there.
What's your take on what will happen next?
Share your thoughts in the comments section below.
We appreciate the time you took to read this. Thanks a lot for your continued support.
Namaste.
Note
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