Is This It? The S&P 500 Index Hits Support

Once more and one last time, we are looking at the S&P 500 Index (SPX) daily chart... We continue to look, feel, and detect bearish/red.

The SPX is now resting on support marked by MA200 (3020.95) and EMA50 (3004.29) while the red trading volume is increasing.
The RSI is trending down and the MACD on my chart is gone.

If you would like to see the next support levels, feel free to visit my last SPX chart.
We are likely to see a break of support (drop) next.

Thanks a lot for your continued support.

Namaste.

Kommentera:

We remain of the same view... So far we are looking at a lower high and no real momentum.

For us to switch from bearish to bullish on this set up, we would need the last high to be broken on good volume.