The S&P looks like it lost support of the rising wedge pattern it formed since last year. You can see that it broken down below last week and then made a retest. It looks now like the support line has turned to resistance, which is bearish. It looks like the correction from the ATH may not be done yet and there is further downside. It will be confirmed once the S&P breaks below the low of last week.
4h
Question that still remains is will it break the 100 day SMA. It is hovering just above it. Look to see if there is a bounce from here and an attempt to regain the rising wedge.
4h
Question that still remains is will it break the 100 day SMA. It is hovering just above it. Look to see if there is a bounce from here and an attempt to regain the rising wedge.
Comment:
100 day held for today
