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WolfRam_Beta

SPX has broken down ascending wedge, more downside probable

Short
S&P 500 Index (SP:SPX)  
WolfRam_Beta Updated   
SP:SPX   S&P 500 Index
Elliott Wave Wedge Oscillators SPX (S&P 500 Index) SPDR S&P 500 ETF (SPY) S&P 500 (SPX500)
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elliottwaves wedgepattern oscillator spx spy spx500
After 11 days of consecutive green candles we finaly see our first red candle.
With this we directly break down our ascending wegde, indicating more downwards movement might follow.
The next two days will be critical to confirm this idea.
Comment:
Against my expectations the markets have continued to rally higher.
Altough now the rally seems to be losing momentum, looking at the MACD & RSI

It could be that the results from this quarter + the important FED talks extended this rally (but that's just a hypothesis)
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