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TennHedge

Next Leg Down in This Bear Market Is Underway

Short
S&P 500 Index (SP:SPX)  
TennHedge Updated   
SP:SPX   S&P 500 Index
Chart Patterns Technical Indicators Wave Analysis SPX (S&P 500 Index) SPDR S&P 500 ETF (SPY)
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chartpattern indicator waveanalysis spx spy
There are a number of bearish conditions currently on the S&P 500 chart:

1. Death cross (50 day SMA crossing below the 200 day SMA).

2. 10 day EMA has broken and is now acting as resistance.

3. RSI back to neutral levels - room to give.

I am short here and am also selling out-of-the-money calls on the SPY.
Comment:
This was a losing idea.
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