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SteveEnnom

SPX showing signs of weakness

Short
S&P 500 Index (SP:SPX)  
SteveEnnom Updated   
SP:SPX   S&P 500 Index
Trend Analysis Chart Patterns SPX (S&P 500 Index)
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trendanalysis chartpattern spx
After months characterized by euphoria SPX is finally losing value and retracing. It is still trading above the 200MA hence showing some sort of a bull trend.

This is just the beginning of a downturn, anyway. My take is the index will retrace below the 200MA.

Everything grew too much, it was time for markets to correct.
Comment:
We might be start buying again by 2020 or so
snapshot
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