SPX 23/08/22

Aug 23, 2022

SPX hit a major descending trendline, but now it is in a big confluence area. Indicators aren't looking favorable for more upside, specially after this straight push up - Trend Exhaustion, Highs&Lows and RSI have reached high values, therefore a big correction - if not a strong move to the downside is expected. But before the obvious - one final push to the upside to retest that descending trendline - most likely will create a bearish divergence.