S&P 500 Index: Trend Reversal Signal

The price broke the local uptrend line and it gives a trend reversal signal.
MACD histogram supports a further downside movement. RSI confirmed the price reversal. DMI does not show that the buyers are in control of the market. What does it mean?

These signals tell us about a possible downside movement with the targets at previous swing lows like 2700.00, 2500.00, and 2200.00 levels.

If you have the opportunity to open short trades in such a market, you will probably have good selling opportunities in the daily and lower timeframes. Just don't forget about the proper risk management, where you should not risk more than 1-2% of your capital.



P.S. as I don't use like-bots and other solutions that show great "interest" to my posts, I will be grateful if you support my work by your LIKEs and comment. Of course, if you can do it. The feedback from REAL people is priceless!

Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.