The selloff in SPX broke several key support levels - key moving averages, the small potential head-and-shoulders neckline, the 2019 uptrend line.
There are a number of unfilled gaps present and positive divergence in smaller time frames. If the market chooses to consolidate, we could see the right shoulder of the larger potential head-and-shoulders forming in June.
The monthly chart and the monthly candle suggests further weakness is likely.
Disclaimer: Each post is for informational purposes only. It is not a solicitation, a recommendation or advice to buy or sell any security or investment product. Information provided in each post does not constitute investment advice.
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