Hi Guys, MrBanker is here.
SP500 had been in a long uptrend starting from June 2020. During this period, the trend was succesfully tested 7 times. However, that trend has changed after exactly 19 Months.
- This was the first sign of weakness in the trend.
Additionally, the price-action broke below 200D EMA since FEB 2020.
- This is the second sign of weakness.
Currently, there is a trading war between bears and bulls, therefore, 200D EMA is tested again to validate a bullish or bearish trend.
I cannot judge the direction of the trend based on this analysis but there is an obvious bearish sentiment in the markets.
Trade Safe,
MrBanker
SP500 had been in a long uptrend starting from June 2020. During this period, the trend was succesfully tested 7 times. However, that trend has changed after exactly 19 Months.
- This was the first sign of weakness in the trend.
Additionally, the price-action broke below 200D EMA since FEB 2020.
- This is the second sign of weakness.
Currently, there is a trading war between bears and bulls, therefore, 200D EMA is tested again to validate a bullish or bearish trend.
I cannot judge the direction of the trend based on this analysis but there is an obvious bearish sentiment in the markets.
Trade Safe,
MrBanker
Trade active:
Obvious is obvious... Broken trend was the first sign followed by lower highs.
Trade closed: target reached
