SPX - Don't rule out bearish continuation
$S&P 500(.SPX)$ : The 5DMA was tested on Tuesday, the 10DMA on Wednesday, and the 20DMA can be considered touched on Thursday, this time with a bullish intra-day reversal.
So that was all the pullback? Not necessarily, I checked two oscillators: Williams%R as the fastest one, it is not as oversold as in recent pullbacks, and the MACD is setting a bearish crossover.
For those reasons, don't rule out bearish continuation, and if there is a bounce, key support that became resistance must be recovered.
A chart displaying the S&P 500 (SPX) daily price movements with green and red candlesticks. Multiple moving average lines in blue, green, and purple overlay the chart, labeled 5 DMA, 10 DMA, and 20 DMA. A MACD indicator and Williams%R oscillator are shown below the main chart. A watermark with "SmartReversas" is present.
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