🚨SPX: Bounce on Daily 50 EMA? 📈 Or Drop to 4Hr 200 EMA? 📉 🚨

Quick analysis of SPX short term:
Clear down breakout from 4Hr 50 EMA , Boll. Bands and Rising Wedge
Bulkowski in the Encyclopedia of Chart Patterns lists a Bull market Down Breakout as one of the worst performing chart patterns.
- 51% chance of no more tan 5% drop (this would see a test of the current Daily 50 EMA
This in context with the current 4Hr, Daily, Weekly and Monthly MACD & RSI - it looks like we could see a small dip here to max the daily 50 EMA , before reversal and continuation of the trend before a bigger drop later in the year.
If the daily 50 EMA is broke, we would likely see a drop and test of the 4Hr 200 EMA , but as highlighted by Bulkowski, there is a low probability of a drop greater than 5% for a down breakout of a rising wedge in a bull market.
Looking forward to see how the last months of this year play out!
What are your thoughts?
yemala
Clear down breakout from 4Hr 50 EMA , Boll. Bands and Rising Wedge
Bulkowski in the Encyclopedia of Chart Patterns lists a Bull market Down Breakout as one of the worst performing chart patterns.
- 51% chance of no more tan 5% drop (this would see a test of the current Daily 50 EMA
This in context with the current 4Hr, Daily, Weekly and Monthly MACD & RSI - it looks like we could see a small dip here to max the daily 50 EMA , before reversal and continuation of the trend before a bigger drop later in the year.
If the daily 50 EMA is broke, we would likely see a drop and test of the 4Hr 200 EMA , but as highlighted by Bulkowski, there is a low probability of a drop greater than 5% for a down breakout of a rising wedge in a bull market.
Looking forward to see how the last months of this year play out!
What are your thoughts?
yemala
Nota
*I am talking about a "bull market down breakout of a Rising Wedge chart pattern" - missed this in the 3rd sentence above :)As noted - bulkowski identifies these as having 51% probability of no more than 5% drop and one of the worst performing chart patterns...
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.