S$P 500 gets corrected seriously lower, soon to go bearish

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S&P 500 stock (SPI:SP500) has been violently corrected lower. In the long-term, price is ranging and volatile. Things may soon go bearish.

The ADX period 14 is not far from the level 30, pointing at a moderate momentum in the market. The DM+ is below the DM-, meaning that bears have an upper hand right now.

The MACD default parameters, has its histogram and signal lines below the zero line. There is a Bearish Confirmation Pattern in the chart.

The bias on S&P 500 is bearish and the market is expected to continue going downwards this year, turning into a very clear bear market.

 

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