S&P 500 Analysis after closing bell

• Price is testing an important up trend line. Its also near 20 Day SMA.
• If the next daily candle trades below the up trend line price may test the support levels mentioned in the second chart.
• Getting support at the trend line may save the bulls from a deeper correction.
• Bearish engulfing pattern of one hour chart shown  in a previous post has done well. For now price is trying to form a base near 200 Hour sma. For a bigger fall bears need to break below 200 Hour SMA.
• GOLD NEAR LONG TERM SUPPORT LINE