Simple's Green Room

[simplegreen]

GM git...will post a few weekly charts that seem to paint the same picture and should affirm to some degree our assessment of the USD soon to breakout a bit and S&P to break down for a season.First chart is SPX...it could see a minor bounce attempt but IMO they took it too deep friday after it tested the daiy SMA200...fridays candle needed to be a bullish candle as follow up but instead it was a bearish candle..a marubozu!..its only redeeming aspect was that candle tho bearish was an inside candle which could lend hope for a minor bounce monday before breaking below daily 200 and heading IMO to the weekly 200 around 1160...this chart is a weekly and notice the MA crossover alert arrows(purple)...the indicator alerts on SMA 10/20 crosses and we just had a downward 10/20 cross.If I'm correct there will be a fair amount of downside but not catastrophic.S&P has simply exhausted itself of buyers..IOW its hit top of a trend IMO and now needs correction...the SMA10 and 20 should now form what I call a bowtie like it did before breaking above SMA200...its at this point that it will actually be consolidating and go into a trading rather than trending market.The ultimate outcome cannot be predicted tho as to whether it will advance another leg up or fall hard to search for support..neither should occur tho til consolidation runs its course.Heres the first chart...next one will be on DXY