S&P500 Weekly chart has bearish bias
The S&P500 futures chart is bearish biased, with a skewed potential to the downside.
Candlestick for the week was green but not awesomely bullish, in fact, looked as it the bulls gave up some ground instead.
The coming week needs to close below 3323 to continue the downslide with more commitment.
MACD is supportive of more downside having crossed down, and the week incoming should be breaking down and out of the channel.
Support at 3200, target for next week is 3100, or slightly above meeting the 55EMA.
Stay safe!
Candlestick for the week was green but not awesomely bullish, in fact, looked as it the bulls gave up some ground instead.
The coming week needs to close below 3323 to continue the downslide with more commitment.
MACD is supportive of more downside having crossed down, and the week incoming should be breaking down and out of the channel.
Support at 3200, target for next week is 3100, or slightly above meeting the 55EMA.
Stay safe!
