SPX Bearish Crossovers Signal Downside Risk Toward 20-DMA

SmartReversals
12-13 07:52

$S&P 500(.SPX)$ : 7 of the last 9 bearish crossovers have set the stage for further bearish continuation.

One of the exceptions was an early warning signal. The other exception happened last week; if IT was also an early signal, red continuation is likely toward 20DMA.

As I said yesterday，

$SPDR S&P 500 ETF Trust(SPY)$ : choppiness is normal after a rate cut, and today serves as example. The bounce was fueled by Materials, Financials, Industrials, and Health C, offsetting the lag seen in Tech.

The chop can continue if semis $VanEck Semiconductor ETF(SMH)$ and giants continue weak.

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