2026-02-05
Market Status: SPX in a downtrend, breaking below key support levels. Trading at 6,799.99, below all major EMAs (9/50/200). Three consecutive red candles showing accelerating selling pressure.
VIX Alert: Fear spiking! VIX jumped from 17.97 to 19.29, signaling growing market anxiety. This volatility surge confirms bearish sentiment.
Technical Indicators: RSI dropped sharply to 37.66 (nearing oversold at 30). MACD histogram deeply negative at -14.59, confirming strong bearish momentum. Support broken at 6,838.
Prediction: Tomorrow likely another red candle as selling continues. Week expected to close below open. Watch for potential bounce near 6,780 support level if RSI hits oversold territory.
Trend: ๐ป BEARISH
Candlestick Pattern: Three Black Crows (Feb 3-5: Three consecutive bearish candles with lower closes, accelerating downtrend)
Support: ๐ข 6780 (Feb 5 low, critical support level)
Resistance: ๐ด 6857 (Feb 5 high, immediate resistance)