SPX Needs a Strong Bounce to Prove Itself

SmartReversals
12-16

$S&P 500(.SPX)$ - The bearish Stochastic crossover remains a valid thesis, and the Head and Shoulders formation is now so obvious that it must be seriously considered.

While the market may open green tomorrow morning, any minor bounce must prove its strength by recovering key price levels.

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.

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