My 09/05/21 post noted the SPX had potential for a final thrust up. This never materialized and it appear that the post Elliott wave - Horizontal Triangle move up was a truncated fifth wave that did not exceed the high point of the Horizontal Triangle. This pattern and other bearish factors are discussed in my more detailed writings.
Now all three of the main momentum indicators I follow, RSI + MA, MACD, and Stochastic have bearish crossovers. These signals are coming in the most seasonally bearish month of September.
09/13/21 could be a very important day. If there's a break below the trendline connecting the 07/19/21 and 08/19/21 bottom, the SPX could have a very big move down.
On 09/10/21 the SPX broke below important support at 4468.99 and also broke below an important volume profile support area. This break implies a bearish open on 09/13/21.
Its possible the SPX could open down on 09/13/21 and continue down for the entire trading session.
Mark
Now all three of the main momentum indicators I follow, RSI + MA, MACD, and Stochastic have bearish crossovers. These signals are coming in the most seasonally bearish month of September.
09/13/21 could be a very important day. If there's a break below the trendline connecting the 07/19/21 and 08/19/21 bottom, the SPX could have a very big move down.
On 09/10/21 the SPX broke below important support at 4468.99 and also broke below an important volume profile support area. This break implies a bearish open on 09/13/21.
Its possible the SPX could open down on 09/13/21 and continue down for the entire trading session.
Mark