S&P 500 Index–looking at a Major Bearish Reversal

the market sell off continues

Trend following, no predictions, no forecasts, The S&P 500 Index (SPX), trading at $2,809, is approaching today a major Price Reversal today. Looking at the Weeklies, there is a major Bearish Price Reversal at $2,801, as shown on the stock chart. The Index traded under a 10% annualized rate of growth over 200 days ma, on May 7th.

So, we’ll see how the week closes.

image

Author: Trendanomics

Trend following the markets with simple trend following strategies.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.