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. $SPDR S&P 500 ETF Trust(SPY)$ $E-mini S&P 500 - main 2406(ESmain)$ $E-mini Nasdaq 100 - main 2406(NQmain)$ Image https://x.com/SmartReversals/status/1794100823200235771
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