S&P500 Index In Correction Mode On Daily Cloud Chart! Bearish Outlook!

S&P500 Index In Correction Mode On Daily Cloud Chart! Bearish Outlook! S&P500 closed below the bottom end of the daily cloud and this puts the index in correction mode. Downside risk is high now since the outlook is bearish as long as price action is below the cloud!

On the 4 hour cloud chart the index is still bearish since the cloud chart sell signal above the cloud! S&P500 is dowm more than 4% since the cloud chart sell signal!