Technical Analysis with .SPX

The $S&P 500(.SPX)$ remains below its short term moving average, breadth continues to record as negative, and momentum is now accelerating to the downside— this keeps all three correction criteria as active.

It is likely there will be sharp rallies along the way— but for now this corrective move is in my opinion in its beginning stages.

Initial target 4800 — with later consideration for a deeper decline 4500-4600.

Follow me to learn more about analysis!!

https://twitter.com/tomthetrader1/status/1780416286947967392

Rate Cut Delay: Will S&P Drop Below 5000?

Federal Reserve Chair Jerome Powell said firm inflation during the first quarter had introduced new uncertainty over when and whether the central bank would be able to lower interest rates later this year. ------------------ Will S&P 500 drop below 5000? Is a short term correction or the end of bull market?

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