Bearish analysis of US500/SPX.
Weekly RSI with bearish divergence.
Median line of pitchfork remains untagged, implying move down towards October 2022 low.
Convergence of fib levels/resistance at 6123.9-6144.4; length of move from October 2022 low is the same length as move from March 2020 low to January 2022 high, ATH with near-perfect tag of 2 fib channel expansion projected from January 2022 high to Octobe 2022 low.
Weekly RSI with bearish divergence.
Median line of pitchfork remains untagged, implying move down towards October 2022 low.
Convergence of fib levels/resistance at 6123.9-6144.4; length of move from October 2022 low is the same length as move from March 2020 low to January 2022 high, ATH with near-perfect tag of 2 fib channel expansion projected from January 2022 high to Octobe 2022 low.
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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.