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AlanSantana
May 13, 2020 2:15 PM

S&P 500 Index Falling Wedge Broken, Time To Drop? (Chart Signals Short

SP:SPX1D
S&P 500SP

Description

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The falling wedge we saw recently on the SPX (S&P 500 Index) has been broken... Below the SPX chart signals

  • We now have prices trading below EMA10 and bouncing of EMA50.
  • The MACD is showing a bearish cross while it starts to trend down.
  • The trading volume continues to go lower, which is a bearish signal.
  • We also have a lower high yesterday compared to the 29th of April.



    • These are the signals coming from this chart, which are mostly bearish.
      If EMA50 holds (2838.53), prices can bounce, but when this level breaks it can go straight down.

      Here is my previous analysis...


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      Namaste.
      Namaste.
Trend AnalysisTechnical IndicatorsBeyond Technical Analysis
Comments
Captain_Walker
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I'm not seeing a well defined wedge.
AlanSantana
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@Captain_Walker, The wedge broke.
fayzondoe
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hey bud! sorry to ask here but what do you think btc's next possible scenario is? please update us and thank you!
namaste!
AlanSantana
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@fayzondoe, Take a look at my last analysis.
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