S&P broke the 4H MA50. Starting the correction.

Pattern: Channel Up on 4H.

Signal: Sell as the price broke below the 4H MA50 (blue trend-line) for the first time since August 20. Also the price action and the MACD is similar to the July 15 consolidation which also led to a pull-back below the 4H MA50.

Target: The 1D MA50 (yellow trend-line), which has been the target of all corrections within the 12 month Channel Up.


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