Short

SPX Can Drop More, Watch For Bearish Continuations

Updated

Here on S&P500, price has completed a larger continuation correction on the larger scale, and lower time frame is showing more bearish price action.

What we can see now is the price has clearly move down in an impulsive phase on the latest development since last week. This is good sign for more bearish price action this week.

For now, its best to see if another consolidation could form this week, and continue the bearish trend down to the previous lows.

Note

Consolidation has formed, more possibility of downside, wait for bearish confirmation on lower time frames.

jojofang0901

Also on:

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.