SPX Momentum Waning; Tech Earnings May Confirm Weakness
$S&P 500(.SPX)$ - Daily Chart:
Rejection at the 10DMA, along with the candle's weak appearance, suggests the recent bounce may be losing momentum.
Tech stocks will likely confirm this weakness tomorrow, considering the negative reactions to $Tesla Motors(TSLA)$ and $Alphabet(GOOG)$ $Alphabet(GOOGL)$ earnings reports.
The Stochastic oscillator is attempting to curl up, but as circled in red, these movements have been invalidated recently when the downward trend continues.
$5557 may be breached tomorrow. $SPDR S&P 500 ETF Trust(SPY)$ $Invesco QQQ(QQQ)$ $iShares Russell 2000 ETF(IWM)$
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https://x.com/SmartReversals/status/1815870037405692406
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