themarketzone

Another rejection by the 50 MA line - Bearish signal

FX:SPX500   S&P 500 index of US listed shares
Yesterday's low volume rally didn't last long and today the S&P500             was rejected again by the 50 days MA line and the the bottom of the broken triangle pattern .
What stands between SPX             and the 2100 support zone now is the minor support zone near 2140-2150 as I mentioned in my weekly newsletters this Sunday.

2100 coming next? Looks like it.
Comment: SPX confirmed bearish breakdown yesterday when it was rejected by 2145.
Price is pressured down towards 2100 but there's a small harmonic pattern that can still create a bullish pullback towards 2140 and 2155.
Bullish Bat will complete near 2115-2120.

See more details in this video https://www.youtube.com/watch?v=gwS73o4MMI4
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