SPX500 Will Fall! Short!

Here is our detailed technical review for SPX500.

Time Frame: 1D
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish

The market is testing a major horizontal structure 5062.0.

Taking into consideration the structure & trend analysis, I believe that the market will reach 4928.9 level soon.

P.S
Overbought describes a period of time where there has been a significant and consistent upward move in price over a period of time without much pullback.

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Comment:

Great beginning for a trade, let’s hope it goes further!