$SPX bearish long term but possibility to go up to 200 day SMA.

Apr 29, 2020

The stock price is going up to previous resistance while also hitting the top of the fib retracement, however, since it did go over the 50 day sma line i think it could also go up to the 200 day sma line. However, I still am bearish on the market since headlines for the market will most likely cause it to fall as well as companies filing for bankruptcy and the decrease in volume. I think that we will actually hit new lows when we do go down a second time.