The falling wedge we saw recently on the SPX ( S&P 500 Index ) has been broken... Below the SPX chart signals
- We now have prices trading below EMA10 and bouncing of EMA50.
- The MACD is showing a bearish cross while it starts to trend down.
- The trading volume continues to go lower, which is a bearish signal.
- We also have a lower high yesterday compared to the 29th of April.These are the signals coming from this chart, which are mostly bearish .
If EMA50 holds (2838.53), prices can bounce, but when this level breaks it can go straight down.
Here is my previous analysis...
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