S&P500 Trend Analysis – SPX (EoD) Chart
Market closed almost at lowest point after falling more than 100 points from morning high
Vix has shot up about 50% from recent lows.
Bond yield rise is major negative for stock market.
Hourly and daily trend is down
SPX closed first time below 50 DMA in last 5 months.
Next support zone is around 5030 and 5000 and swing high is 5110.
Please note these are just ideas and only opinions and not a financial advice.
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