When in doubt zoom out (SPX monthly)

11 Des 2022

Since 1954, the S&P monthly 8 EMA has crossed below the 21 EMA eleven times, with the most recent occurrence in September 2022. 10 out of 11 EMA crosses have resulted in the S&P breaking or testing the 50 EMA . With today's monthly 50 EMA sitting around 3650 im really struggling to see the bullish setup going into the new year. Weekly RSIs also look over bought going into fed talks.