S & P 500: downward movement and correction of short, which ended with a negative formation “Hanging man” raising the likelihood of a new downtrend after the correction.
The indicators are in negative zone also for short
Still no higher top and the trend is downward: lower top deeper bottom
Compulsory stop slightly above the previous higher top 1949.50
Possible double top at 1941.75
Sentiment: volatility remains in the market such caution can lead to new bearish momentum.
Stefan D. Angelov – Head of Stocks Trading