The Federal Reserve is expected to cut rates tomorrow. The S&P 500 has already priced in the rate cut. The price action finished an elongated Wave 3 which usually results in a short Wave 5. However, the S&P 500 is expected to remain bullish well into October. The SPY will perhaps reach a high of 590-600
The 50 DMA is about to cross under the 200 DMA forming the infamous Death Cross. Bear market is on the way.
A Head and Shoulders pattern has completed indicating further break to the downside.
The MACD is doing a bearish crossover in negative momentum territory.
The Williams RSI is indicating the start of a bear trend.
The 50 DMA is about to cross under the 200 DMA on the Nasdaq. Creating the Death Cross usually indicates a Bear Market.
A Head and Shoulders pattern has completely formed indicating a further break to the downside.
The MACD is doing a bearish crossover in negative territory
Williams RSI is indicating a bearish trend is starting.
The 50 DMA is about to cross under the 200 DMA on the S&P500. Creating the Death Cross usually indicating a Bear Market.
A Head and Shoulders pattern has completely formed indicating a further break to the downside.
The MACD is doing a bearish crossover in negative territory
Williams RSI is indicating a bearish trend is starting.
