SPX - First time since COVID dropping under the WEEKLY 21EMA. Which has been a key support zone throughout the current run.
If I'd be looking at any other chart and see this - it means one thing: trend is basically finished.
Obviously there are many fundamental aspects that will be a factor in what happens over the medium term, but if we look at what the charts are showing us currently, the easiest and most simple analysis is that price will likely retest the 21EMA and continue its trend down.
If I'd be looking at any other chart and see this - it means one thing: trend is basically finished.
Obviously there are many fundamental aspects that will be a factor in what happens over the medium term, but if we look at what the charts are showing us currently, the easiest and most simple analysis is that price will likely retest the 21EMA and continue its trend down.
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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.