IWM Bearish Engulfing

• Daily chart shows a Huge bearish engulfing pattern which engulfs almost 4 previous bullish daily candles.
• As a follow up price must takeout 20 Day SMA for the selling to continue. A range here may result in a bounce.
• Weekly chart shows possible target at the channel resistance line. Price falling back into the channel may result in a bigger correction.
• SPX ANALYSIS AFTER CLOSING BELL

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