S&P500 may drop -3% to -6%.

Pattern: Bullish Megaphone on 4H.

Signal: Sell as the price broke below the 4H MA50 (blue trend-line) and since December 21, 2020, every time the index broke below the 4H MA50 it dropped even lower to (or below) the 4H MA200 (orange trend-line).

Target: Anywhere within a -3% to -6% from the recent High. -3% has more chances as as 3 out of 5 MA50 breaks resulted in a -3% drop.



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