S&P index has been down for 14 consecutive hourly bars
The S&P index is currently trading down 34 points or -0.81% in the first hour of trading for the day. The somewhat good news is that the price is well off it's low for the day at 4212.35, but still has work to do to show the buyers can take more control.
Of note off the hourly chart, is that the S&P index has not had a up hourly bar over the last 14 hours of trading. The last hourly bar rise came on April 21. Over that move to the downside, the price has shed -5.85%.
If the price cannot have a positive bar, the buyers are not winning. A new hourly bar is just beginning. The last bar closed at 4239.64.
Can the 14 bar losing streak be broken?
