SPX Conventional TA Confirms Correction

23 Şub 2022

The correction we have been seeing for a long while now has been "confirmed" by the conventional analysts... I think they use a 10% threshold...

For us the correction started once prices broke and closed below EMA10/50.

Confirmation happened at the double rejection on the EMA50 magenta line (marked yellow).

Now, we have a many red candles, a falling window and bearish indicators.. This all points lower.

Additional details on the chart.

Conditions for change
The falling window is the main resistance short-term, the first level to conquer if the bullish want back in the game.

Thank you for reading.

Namaste.