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Here you can see our previous analysis for the S&P 500 Index all-time high (This is not financial advice. All information shared by Alan Masters is for educational and entertainment purposes only):
- EMA50 (magenta line) is the support that was holding the SPX500USD from going lower. After three attempts, it finally broke going all the way down to EMA100 (blue line).
Each time EMA100 is broken, we see massive action. Daily candle is yet to close, so the above signal is only confirmed after trading day closes and it needs to be below EMA50 and EMA100 for this signal to be valid.
- Trading growing massively after the top was hit. We have double and triple trading while bears are now taking the upper hand.
- The crashed completely and is on the side.
- The is now entering the zone and clearly and moving lower.
Conditions for change: For the S&P 500 Index ( SPX500USD ) to change course, a strong close above EMA10 needs to happen, and at the same time the index needs to remain above it or grow from there.
What's your take on what will happen next?
Share your thoughts in the comments section below.
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