SPX - No bearish confirmation yet

SmartReversals
05-10

$S&P 500(.SPX)$ - The shooting star printed on Thursday was followed by a red candle, but the price continues above the 5 and 10DMA, so no bearish confirmation yet.

Since the price is overbought relative to fast oscillators and still below the 200 DMA, the bearish setup has to be confirmed losing the 5DMA, for a visit to $5,551.6.

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The futures are building on the launchpad thesis. Let’s see how the day ends. $S&P 500(.SPX)$ $NASDAQ 100(NDX)$ $Dow Jones(.DJI)$

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