SPX Daily Chart: A technical bounce is normal after a bearish engulfing candle

$S&P 500(.SPX)$ A technical bounce like the one seen today is normal after a bearish engulfing candle.

With or without green continuation on Tuesday, further decline is expected, there are recent references highlighted in the chart.

A bearish MACD cross is around the corner, that would validate the thesis of a healthy pullback coming. If it happens, a visit to the 20 and 50DMA zone is expected.

The Bullish crossover in 20 and 50 DMAs looks like the welcome sign for Summer season. Suggesting that a healthy pullback would be a buying opportunity.

$SPDR S&P 500 ETF Trust(SPY)$ $E-mini S&P 500 - main 2406(ESmain)$ $E-mini Nasdaq 100 - main 2406(NQmain)$

Image

https://x.com/SmartReversals/status/1794100823200235771

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Comments

JohnnyYoung
05-25
JohnnyYoung
I agree that a technical bounce is common after a bearish engulfing candle.
NinaEmmie
05-25
NinaEmmie
The recent bullish crossover in DMAs suggests a buying opportunity.
AmyMacaulay
05-25
AmyMacaulay
A bounce was expected after the bearish engulfing candle.
KSR
05-26
KSR
👍
rinaldi kosasih
05-25
rinaldi kosasih
Great article, would you like to share it?
Syifa yes
05-25
Syifa yes
Great article, would you like to share it?

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If it happens, a visit to the 20 and 50DMA zone is expected.The Bullish crossover in 20 and 50 DMAs looks like the welcome sign for Summer season. Suggesting that a healthy pullback would be a buying opportunity. <a data-mention-id=\"SPY\" class=\"teditor-mention\" data-mention-name=\"SPDR S&amp;P 500 ETF Trust\" href=\"https://ttm.financial/S/SPY\">$SPDR S&amp;P 500 ETF Trust(SPY)$</a> <a data-mention-id=\"ESmain\" class=\"teditor-mention\" data-mention-name=\"E-mini S&amp;P 500 - main 2406\" href=\"https://ttm.financial/FUT/ESmain\">$E-mini S&amp;P 500 - main 2406(ESmain)$</a> <a data-mention-id=\"NQmain\" class=\"teditor-mention\" data-mention-name=\"E-mini Nasdaq 100 - main 2406\" href=\"https://ttm.financial/FUT/NQmain\">$E-mini Nasdaq 100 - main 2406(NQmain)$</a> <img alt=\"Image\" title=\"Image\" src=\"https://community-static.tradeup.com/news/f1419b637311896fbf225efa076af6e4\" tg-width=\"1200\" tg-height=\"875\">Imagehttps://x.com/SmartReversals/status/1794100823200235771</body></html>","htmlText":"<html><head></head><body> <a data-mention-id=\".SPX\" class=\"teditor-mention\" data-mention-name=\"S&amp;P 500\" href=\"https://ttm.financial/S/.SPX\">$S&amp;P 500(.SPX)$</a> A technical bounce like the one seen today is normal after a bearish engulfing candle.With or without green continuation on Tuesday, further decline is expected, there are recent references highlighted in the chart.A bearish MACD cross is around the corner, that would validate the thesis of a healthy pullback coming. If it happens, a visit to the 20 and 50DMA zone is expected.The Bullish crossover in 20 and 50 DMAs looks like the welcome sign for Summer season. Suggesting that a healthy pullback would be a buying opportunity. <a data-mention-id=\"SPY\" class=\"teditor-mention\" data-mention-name=\"SPDR S&amp;P 500 ETF Trust\" href=\"https://ttm.financial/S/SPY\">$SPDR S&amp;P 500 ETF Trust(SPY)$</a> <a data-mention-id=\"ESmain\" class=\"teditor-mention\" data-mention-name=\"E-mini S&amp;P 500 - main 2406\" href=\"https://ttm.financial/FUT/ESmain\">$E-mini S&amp;P 500 - main 2406(ESmain)$</a> <a data-mention-id=\"NQmain\" class=\"teditor-mention\" data-mention-name=\"E-mini Nasdaq 100 - main 2406\" href=\"https://ttm.financial/FUT/NQmain\">$E-mini Nasdaq 100 - main 2406(NQmain)$</a> <img alt=\"Image\" title=\"Image\" src=\"https://community-static.tradeup.com/news/f1419b637311896fbf225efa076af6e4\" tg-width=\"1200\" tg-height=\"875\">Imagehttps://x.com/SmartReversals/status/1794100823200235771</body></html>","text":"$S&P 500(.SPX)$ A technical bounce like the one seen today is normal after a bearish engulfing candle. With or without green continuation on Tuesday, further decline is expected, there are recent references highlighted in the chart. A bearish MACD cross is around the corner, that would validate the thesis of a healthy pullback coming. If it happens, a visit to the 20 and 50DMA zone is expected. The Bullish crossover in 20 and 50 DMAs looks like the welcome sign for Summer season. Suggesting that a healthy pullback would be a buying opportunity. $SPDR S&P 500 ETF Trust(SPY)$ $E-mini S&P 500 - main 2406(ESmain)$ $E-mini Nasdaq 100 - main 2406(NQmain)$ Image https://x.com/SmartReversals/status/1794100823200235771","highlighted":1,"essential":1,"paper":2,"likeSize":2460,"commentSize":8,"repostSize":692,"favoriteSize":0,"link":"https://ttm.financial/post/309539381117024","repostId":0,"isVote":1,"tweetType":1,"viewCount":16583,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[".SPX","SPY","NQmain","ESmain"],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":true,"length":608,"xxTargetLangEnum":"ORIG"},"commentList":[{"id":309553255518384,"commentId":"309553255518384","gmtCreate":1716604093721,"gmtModify":1716891358852,"authorId":9000000000000169,"author":{"id":9000000000000169,"idStr":"9000000000000169","authorId":9000000000000169,"name":"JohnnyYoung","avatar":"https://static.tigerbbs.com/df6a0fed4b2624034014be633476534a","vip":8,"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":309539381117024,"objectIdStr":"309539381117024","type":1,"supId":0,"supIdStr":"0","prevId":0,"prevIdStr":"0","content":"I agree that a technical bounce is common after a bearish engulfing candle.","text":"I agree that a technical bounce is common after a bearish engulfing candle.","html":"I agree that a technical bounce is common after a bearish engulfing candle.","likeSize":0,"commentSize":0,"subComments":[],"verified":10,"allocateAmount":0,"commentType":"valid","coins":0,"score":0},{"id":309552771526776,"commentId":"309552771526776","gmtCreate":1716604092449,"gmtModify":1716891358715,"authorId":9000000000000454,"author":{"id":9000000000000454,"idStr":"9000000000000454","authorId":9000000000000454,"name":"NinaEmmie","avatar":"https://static.tigerbbs.com/5fc0bb702215fdd5f1335f8d65e3e9bc","vip":8,"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":309539381117024,"objectIdStr":"309539381117024","type":1,"supId":0,"supIdStr":"0","prevId":0,"prevIdStr":"0","content":"The recent bullish crossover in DMAs suggests a buying opportunity.","text":"The recent bullish 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