Breaking Down
The S&P is showing bearish signals as we move forward.
We have just broken through the 100 period EMA on the 4hr with lots of volume. We have been seeing increased volume after we stalled out around 390-393. Seems like folks are unloading shares.
Keep a sharp eye out as we move farther down. We have a bit of room to run, but there could be a reversal on the 50 Day ema or at least a bounce as we head farther south.
Everything points to an over extended market, so stay vigilant. Downturns happen as soon as you think everything is all right.
We have just broken through the 100 period EMA on the 4hr with lots of volume. We have been seeing increased volume after we stalled out around 390-393. Seems like folks are unloading shares.
Keep a sharp eye out as we move farther down. We have a bit of room to run, but there could be a reversal on the 50 Day ema or at least a bounce as we head farther south.
Everything points to an over extended market, so stay vigilant. Downturns happen as soon as you think everything is all right.
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