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Sean HymanSean Hyman
Keymaster
Post count: 3810

The S&P 500 closed right at the 20-day moving average (yellow arrow). With the RSI coming out of overbought and the MACD diverging lower, it could propel the market lower over the coming trading days and, if so, could accelerate the selling in the overall broader market.

Also, notice the risks that the chart is showing us by how far the price is still above its 200-day moving average (emphasis with the red arrows…top of the market move relative to the moving average).

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