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AlanSantana
Jul 14, 2020 4:41 PM

SPX Strong Rejection + MACD Bearish Divergence Short

SP:SPX240
S&P 500SP

Description

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Here we are looking again at the SPX but this time short-term, the 4H timeframe.

Marked in yellow is a bearish candle.
This is a strong rejection after a new "high" was hit...
Prices quickly moved back down to close below EMA10.

When we look at the MACD compared to the SPX, we have a very strong bearish divergence.

These signals support our general bearish view on this index.

Conditions for change
This is no trade advice of course.
If prices move and close above the last-high and we also see increasing volume, the above signals become invalid and a new analysis is needed.

Here you have a bigger timeframe and more detailed review:


Thanks a lot for your support.

Namaste.
Trend AnalysisTechnical IndicatorsBeyond Technical Analysis
Comments
Streamjannife
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Great work.Thank you for Sharing This wonderful information. It really helps me as a beginner.keep going..stay awesome.
AlanSantana
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@Streamjannife, Your comment surely motivates me to keep going...

Thanks a lot for the support.

Namaste.
M901433
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3119 is V.good support,market take time to break it.
today 1hr candel's reject 3172 many time's,so bearish tune is in progress.
AlanSantana
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@M901433, Thanks for sharing.
shaggad
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SPX still has steam, until all the bears are defeated it will keep going up.
DaddySawbucks
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Shorting the rallies ty master
AlanSantana
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@DaddySawbucks, More like a bounce and rejection at the previous high...
Efrem1973
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jooohh master, thanks for the update I go short now. cheers amigo keep on doing your great work!
AlanSantana
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@Efrem1973, Make sure to do your own research before trading.

This is not financial advice.

All the information shared here is for learning/entertainment purposes only.

Thanks a lot for the support.

Namaste.
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