brian7683

SPX Bearish case. Will history repeat?

Short
SP:SPX   S&P 500 Index
I'm a bullish trader but the TA on this chart shows a pretty bearish scenario.

The patterns look very similar to 2000 and 2008 crash.

We broke down the support trendline in May 2022.

Could it be pain until mid 2024? I REALLY do not hope so!

We can hope for a relief rally by September 2022 to touch the trendline and confirm the bearish pattern.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.