S&P 500 Analysis after closing bell

 

• SPX Weekly candle lost most of the gains on Friday closing near the bottom of the range.
• Price also closed at 50 Day SMA and 23.6% Fibonacci level. 
• Momentum of the last day candle seems to be good for bears for more to come. So a close below this fib level and 50 SMA should accelerate the down move.
• Below 1422 Targets are 1415 and 1395. Price Not breaking below 1422 may save bulls from a larger fall and keep price in a range.