SPX weekly showed the downtrend direction. Tomorrow is the last day to continue the downtrend, so tomorrow there is a chance that we should see SPX below 2820 with gap down tonight or in the morning. I looked at overnight to define the trend, although most of the direction showed the upside, in my view, I see the direction should have remained in the downside. That would be the moving force.
Comment:
Breaking down the trend line today, so it confirm back to downtrend, maybe bigger move down is coming
or down that really a key. Weekly candle that has lower low is the fact that we are in bearish mode.
The fact is we are in bearish mode, so no uptrend in my view.
If it is moving down, the fact will tell you. If you assume up or down,
Then act upon to it, never work!