SPX Daily Chart - The bearish crossover

The bearish crossover between the 20-day and 50-day moving averages (DMAs) has been confirmed.

Price action today reached two key levels mentioned over the weekend:

ℹ️50DMA: Encountered resistance at this level.

ℹ️$5119: Still acting as resistance.

The indecision candle at a confluence of resistance levels is something to be careful about.

A free/open post for everyone covering more details for $S&P 500(.SPX)$ $Alphabet(GOOG)$ $Alphabet(GOOGL)$ $Tesla Motors(TSLA)$ $Meta Platforms, Inc.(META)$ will be published today in Substack.

Image

https://twitter.com/SmartReversals/status/1785040708958568857

Will You Sell in May or Stay in May?

With share markets enjoying a strong start to the year, investors are considering whether it's time to take profits. The adage “Sell in May and go away” often resurfaces in late April/early May.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

Taurus Pink
05-05
Taurus Pink
[龇牙] [龇牙]
Longmanlee
05-02
Longmanlee
It was rejected again at 5126
AndreaClarissa
04-30
AndreaClarissa
Great analysis on the SPX daily chart!
Lovepreet singh
04-30
Lovepreet singh
Great

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