S&P 500 E-Mini Futures experiences big pullback, signaling potential downward trend

From Investing.com: 2024-09-09 08:15:00

The S&P 500 E-Mini Futures saw a big pullback with a bear bar testing the 20-week EMA, putting bulls on edge for a retest of the August low. Bears aim to create a follow-through bear bar for higher odds of a lower retest after a strong pullback. The weekly candlestick formed was a big bear bar below the 20-week EMA, signaling potential downward momentum. Bulls are eyeing a small second leg upward to retest the August 30 high, hoping for minimal downside movement. Overall, the market appears poised for a potential shift towards a downward trend with bearish sentiment prevailing.



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