S&P 500 Prints Bearish Engulfing at 7,683.75 as Descending Triangle Nears Completion
On the 5-hour chart the S&P 500 formed a pronounced bearish engulfing candle at 7,683.75, compressing price against a critical 7,660 support line inside an 85% complete descending triangle. Momentum indicators - including SuperTrend, Ichimoku positioning, MACD and RSI - align with downside bias, while shrinking volume suggests a buildup ahead of a …