S&P 500 Index Falling Wedge Broken, Time To Drop? (Chart Signals

SPCFD:SPX   S&P 500 Index
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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Comment: (DJI) Dow Jones Industrial Average
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Similiar thinking. DJI has a chance to close below last higher low even today, so the good drop on US markets may take place in coming days. From macro prospective US gov is going to print 3 tn dollars more, but it looks like that money printing has no effect on markets any more, hopefully.
Thanks for sharing.
+1 Reply
@dibbas, My pleasure.
Short the rallies IMO, ty for post!
+1 Reply
alanmasters DaddySawbucks
@DaddySawbucks, Always. Thanks for the support.
Since when do you post non crypto lol
Nice analysis! I think this time the market will drop for real. Powell did not pump the market today, instead warned about 'lasting damage' due to coronavirus? what, no more 'V' shaped recovery? I think Trump & Fed will be taking a break during the summer and back to pump the market around July - August time, before the November election.

So, let the shorting begin!
What I'm worried about is last time the DJI & SPY dumped in mid-march the entire crypto market flash crashed with it..
I agree.

COVID-19 has brought the entire world economy to a snails pace

COVID-19 is not slowing down and there has only been one big drops on the stock market.
More dumps are a no brainer
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