SPX500 Flashes Warning as Q3 Conclusion Nears
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As we head towards the conclusion of Q3 at the end of the month, the SPX500 has flashed a serious warning sign. The index has charted a lower peak followed by a lower trough on the weekly time frame. This is a defined downtrend.
Moreover, the weekly RSI has dipped below 50 (green rectangle). This is the bearish side of the indicator. The longer it maintains on this side, the more pressure the index is likely to face.
The black 30-week EMA is currently acting as important support. However, if the index's candles cross below the EMA and the EMA turns down this will be regarded as further bearish signals.
Image by Arek Socha from Pixabay
Russell Shor
Senior Market Strategist
Russell Shor is a Senior Market Strategist at FXCM, having been promoted to the role in 2025 in recognition of his depth of insight and consistent delivery of high-impact market analysis. He originally joined FXCM in October 2017 as a Senior Market Specialist.
Russell holds an Honours Degree in Economics from the University of South Africa, is a certified FMVA®, and a full member of the Society of Technical Analysts (UK). With over 20 years of experience in financial markets, his work is renowned for its clarity, precision, and strategic value across asset classes.
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