TipTVFinance

S&P500 – Rising trend line breached

TVC:SPX   S&P 500
Despite Thursday's rebound from 2114.7 levels, the subsequent failure at 2149.2 and a close below the rising trend line on Friday suggests bulls are losing control.

The index could test 2100 levels, but further losses towards 2050 could require a day end close below 2100 handle.

On the higher side, bearish invalidation is seen only if the index retakes rising trend line on daily closing basis.
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