Nathan_Black

SPX: Imminent Crash! Next Key Points to Watch.

SP:SPX   S&P 500 Index
• The SPX reversed the short-term bull trend, as it lost our 21 ema in the 1h chart, failing in breaking the previous top (it did a Double Top chart pattern around the 4k);
• In addition, it lost the support we mentioned yesterday, at 3,950, indicating a sharp correction – maybe even an overreaction;
• Either way, the 3,950 is a new resistance on SPX, according to the Principle of Polarity;
• Now, it seems the index is heading to the 21 ema in the daily chart, as I mentioned yesterday (link to my previous public analysis is below this post, as usual);
• What’s more, it triggered our Shooting Star candlestick pattern, which reinforces the bearish sentiment, at least for now;
• Let’s pay attention on how it’ll react around the 21 ema in the daily chart.

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