S&P 500 Weekend update

 

 

• SPX Closed below 20 day sma.
• Next crucial support at 50 Day SMA. Daily MACD shows a sell signal. 50 SMA at 1600 has to break for the sell signal to gain strength further.
• Weekly chart shows weakness after negative divergence. Weekly RSI falling below 70% line will help bears to extend the down move.