S&P500 Index (SPY) Important Breakout & Bearish Outlook 📈

Short

S&P 500 Index (FX:SPX500)

Updated

FX:SPX500 S&P 500 Index

Parallel Channel Rectangle Candlestick Analysis forecast trading priceaction priceactionanalysis priceactiontrading priceactionstrategy

parallelchannel rectangle candlestick forecast trading priceaction priceactionanalysis priceactiontrading priceactionstrategy

snapshot

After 1 week of consolidation within a horizontal trading range,
this morning S&P500 broke and closed below its support.

Taking into consideration that the market is trading in a minor bearish trend
from the beginning of April, that breakout will most likely trigger a further decline.

Goals:
4340
4300

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