Multi-Timeframe Analysis: S&P500
Hourly Chart: Failed Break. (Bearish)
Daily Chart: Failed Break + Hanging Man and confirmation. (Bearish)
Weekly Chart: Shooting star. (Bearish)
Monthly Chart: (Bullish)
Futures: below the current market with increased volume above the monthly average! ( Bearish )
Conclusion: Bearish is the most probable scenario.
Educational Articles:
1- Failed Break:
https://www.investopedia.com/terms/f/failedbreak.asp
2-Hanging Man:
https://www.investopedia.com/articles/active-trading/040914/understanding-hanging-man-optimistic-candlestick-pattern.asp
3-Shooting Star:
https://www.investopedia.com/terms/s/shootingstar.asp
Daily Chart: Failed Break + Hanging Man and confirmation. (Bearish)
Weekly Chart: Shooting star. (Bearish)
Monthly Chart: (Bullish)
Futures: below the current market with increased volume above the monthly average! ( Bearish )
Conclusion: Bearish is the most probable scenario.
Educational Articles:
1- Failed Break:
https://www.investopedia.com/terms/f/failedbreak.asp
2-Hanging Man:
https://www.investopedia.com/articles/active-trading/040914/understanding-hanging-man-optimistic-candlestick-pattern.asp
3-Shooting Star:
https://www.investopedia.com/terms/s/shootingstar.asp
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