Are we seeing the start of a downtrend for SPX500?
Last week, we broke out of the rising wedge and gapped down.
Currently, MACD, RSI, 2 Day "Rate of Change" and Filter wave are all showing bearish signals.
Therefore, I am leaning towards the market to go down.
If we close below 2934 (0.618 Fib retracement and 50 moving average),
it is a CONFIRMED downtrend for me.
Lastly, we cannot rule out sideways actions, it will not surprise me that we trade between the fib levels (2934 and 3136) for the next 5 days.
Last week, we broke out of the rising wedge and gapped down.
Currently, MACD, RSI, 2 Day "Rate of Change" and Filter wave are all showing bearish signals.
Therefore, I am leaning towards the market to go down.
If we close below 2934 (0.618 Fib retracement and 50 moving average),
it is a CONFIRMED downtrend for me.
Lastly, we cannot rule out sideways actions, it will not surprise me that we trade between the fib levels (2934 and 3136) for the next 5 days.
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Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
İlgili yayınlar
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.