SPX Daily Chart: A technical bounce is normal after a bearish engulfing candle
@SmartReversals：
$S&P 500(.SPX)$ 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. $SPDR S&P 500 ETF Trust(SPY)$ $E-mini S&P 500 - main 2406(ESmain)$
