$SPX - Hanging Man at the Volume Shelf
$S&P 500(.SPX)$ - Hanging Man at the Volume Shelf
The Point of Control acted as a bouncer considering the economic news, aspects to consider:
*Orange arrows highlight similar candles preceding declines.
*Green arrows highlight similar candles followed by bullish continuation, both had oscillator in uptrend, not the case this time, and comparable with the red circle.
*The higher Bollinger band is narrowing, as red arrows highlight in previous occurrences of bearish continuation.
Different indicators suggest caution is still key, Support levels must be used as insurance reference.
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https://twitter.com/SmartReversals/status/1842300017819726230
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