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AlanSantana
Jan 19, 2022 3:59 PM

S&P 500 Index Bearish Potential Short

CME_MINI:ES1!1W
E-mini S&P 500 FuturesCME

Description

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Let's have a look now at the S&P 500 Index (SPX).

Let's start by looking at the daily chart, things are no good:


Here we can appreciate a TOP pattern formation showing up (in yellow).

The SPX closed below EMA50 daily and is now trying EMA100 (4572) as support.

We have bearish indicators and lots of room for lower prices... Let's go to the weekly now.

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The main chart above is the weekly one.

We can see a perfect uptrend after the March 2020 crash. No strong corrections for almost 2 years.

Now, we have the SPX moving below EMA21 and EMA10 this week with bearish indicators.

The bear volume is also predominant on this chart.

We are aiming lower!

Conditions for change
Just as with the NASDAQ chart, this analysis is invalidated if prices move and close weekly above EMA10.

Thank you for reading.

Namaste.

Trade active

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First target hit.
We are expecting more RED.
Trend AnalysisTechnical IndicatorsBeyond Technical AnalysisSPX (S&P 500 Index)S&P 500 E-Mini FuturesS&P 500 (SPX500)
Comments
El_Cortezz
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That will afect on Crypto market? in which way ?
AlanSantana
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@El_Cortezz, We don't know.

People might look to crypto as alternative to stocks or it might crash together.
maroff
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dont listen to this clown here, he wants to get you into crypto. but clever people dont invest in what the kids playing with. play with the big guys, not with Alan. He has no clue
ntwan
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@maroff, there is a clear technical breakdown in all markets. not sure what drug youre on but the fed must be your dealer 🤣
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