The S&P500 index reached 3160p on 2nd of December – it was ATH. On the same day, there were quite sharp falls, which were aggravated during the Tuesday session.
Wednesday’s quotations were within the range of the previous day and the Inside Bar pattern appeared on the daily chart.
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When we look at chart H1 in terms of EMA144 strategy, we can see that S&P500 index after a fairly rapid breaking the EMA144 on 4 December turned back and tested the average from below, which is now a dynamic resistance. In addition, at this level is the upper limit of the Inside Bar from the daily chart. The MACD has created a maximum and is decreasing which suggests further decreases of the index.
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