xChampi0nx
Short

How long will bulls defend the last support for?

FX:SPX500   S&P 500 index of US listed shares
40 0 1
Monthly: I posted monthly view earlier this month and SPX             is below Kijun which is a bearish sign. Please refer to that chart for bigger picture

Weekly:
-Bearish Ichimoku
-Prices testing the last supp zone as highlighted
-EWO bearish
-HA osc bearish

Daily:
-Ichimoku is bearish . Look how well kijun acted as resistance
-Divergence on rsi and EWO near term. I expect a pause here.There is ton of resistance overhead. PA will tell
-Doji HA means slowdown in bearish momentum ST            

4H:
-Neutral for now
-100 wma and 200 sma will be resistance areas alongwith cloud
-EWO has divergence and prices are moving above kijun
-1863-1870 is resistance zone and if that clears then cloud .
A daily close below last week's low will get things going to the downside towards 1500-1600. Keep an eye on 4H for next sell opportunity.

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