End of the trend?

The important US indexes closed clearly below their 50 SMA yesterday. Now a pattern of lower highs can be seen in the charts, see the S@P and the NASDAQ charts of the last three months.

Though the longer trend still being up, the trendline in the S@P chart of the last 6 months maybe a last rescue for the bulls. See last chart. Maybe the of this trend. But before we can conclude this we probably will see some testings of the 50 SMA and the 200 SMA.

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