SPX Monthly | Bearish Engulfing Short

S&P 500SP

Description

⋅ Feb 8, 2022 3:58 AM

The January close for the SPX ended up red, this is the bearish engulfing candlestick pattern.

We have a negative count starting on the TD Sequential indicator after a perfect nine.

We have above-average red volume on last months candle.

Last, we have a broken up-trendline.

These are all bearish signals.

Conditions for change
A close above last months high is needed to turn this thing around.

Namaste.

Comments

ntwan

⋅ Feb 8, 2022 7:24 AM

SPX @ 3000 bounce on the ichimokou in July would be a scenario I want to buy in

Vibranium_Capital

⋅ Feb 8, 2022 12:48 PM

Agreed

TradePlus-Fx

⋅ Feb 8, 2022 8:20 AM

Thanks for sharing! My view :)

HanTheGibsonSlayer

⋅ Feb 8, 2022 7:20 AM

that's what i'm lloking at the last few weeks ... some say the big euphoric rally has to come before we really crash ... but it looks like the crash started ... we'll just have to see what happens with the FED cuts ... and if the S&P and the Dow crash, what effect it will have on the big crypto run now ...

AlanSantana

⋅ Feb 8, 2022 7:55 PM

@HanTheGibsonSlayer, Crypto correction is already more than halfway through...

Peterson

⋅ Feb 8, 2022 6:26 AM

"A close above last months high is needed to turn this thing around." Ain't happening, she gone . Sell the rallies imho.

CapeAfrican

⋅ Feb 8, 2022 1:25 PM

@Peterson, totally agree --TOP 10 companies of the SP500 is TECH and they will drag it down.

AlanSantana

⋅ Feb 8, 2022 7:55 PM

@Peterson, Agreed.

FudBox

⋅ Feb 8, 2022 4:52 AM

YUP!