S&P 500 Technical Analysis: A Warning Sign? #technicalanalysis

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S&P500 in the overbought area after recent record highs.

Probable MACD bearish divergence on the daily graph. The index is still positive on the weekly and monthly graphs. A signal for a possible correction could come from the 4H graph – a bearish MACD divergence or a clear down direction. Anyway, the last third of a move (if we are in it on the daily!) is the hardest one to be traded so a big amount of caution should be used.

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