S&P 500 Index Falling Wedge Broken, Time To Drop? (Chart Signals
The falling wedge we saw recently on the SPX (S&P 500 Index) has been broken... Below the SPX chart signals
- We now have prices trading below EMA10 and bouncing of EMA50.
- The MACD is showing a bearish cross while it starts to trend down.
- The trading volume continues to go lower, which is a bearish signal.
- We also have a lower high yesterday compared to the 29th of April.These are the signals coming from this chart, which are mostly bearish.
If EMA50 holds (2838.53), prices can bounce, but when this level breaks it can go straight down.
Here is my previous analysis...
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Namaste.
Namaste.
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