Sell off take time.
Usually you get a bounce that fails.
What you watch is the daily chart.
If that 50 sma comes down and the S&P goes into a down trend.
That's going to be your confirmation.
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Thanks for the insight. Not trying to be critical but I would refer to this as the 5 min chart. Daily chart would imply daily candles. Most people won't need this clarification but newer traders might.
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