Just a quick sum up that the S&P500 has already broken down...
1. The top was a bearish engulfing that wiped out a weeks worth of gains in a single session.
2. System (ATISver5) is bearish with Sell signal qualified.
3. MACD crossed down.
4. Technical rebound failed at 3400, the previous top n February 2020, making a Lower High.
5. MACD crossed over into bear territory, below zero.
6. A Lower Low was just made, with the lowest close in September.
Next two weeks should see 3120, by the end of September, just to target the downside... with a possible bounce about 3230.
Noted a week ago, it was already clear, perhaps now is clearer.
1. The top was a bearish engulfing that wiped out a weeks worth of gains in a single session.
2. System (ATISver5) is bearish with Sell signal qualified.
3. MACD crossed down.
4. Technical rebound failed at 3400, the previous top n February 2020, making a Lower High.
5. MACD crossed over into bear territory, below zero.
6. A Lower Low was just made, with the lowest close in September.
Next two weeks should see 3120, by the end of September, just to target the downside... with a possible bounce about 3230.
Noted a week ago, it was already clear, perhaps now is clearer.
