Is the bullish run coming to an end? the S&P closed at 4,137.64 (-0.21%)

Though in the midst of a 9 day uptrend, gaining a total of 7.31%, (290.46 points), The prevailing bullish trend is beginning to fade following Friday's downbeat session. Overall, the S&P 500 shed around 8.58 points or 0.21% and ended Friday's session at 4,137.64.

S&P 500 made an initial break below its 3 day Simple Moving Average at 4,120, a possible indication of a forthcoming negative trend. A Bearish Harami chart pattern, which is a means of predicting reversals in bull markets. When a Bearish Harami is detected at the top of a prevailing uptrend, it is typically considered a bearish signal and a prelude to a potential trend reversal. The S&P's upper Bollinger Band® is at 4,197.37 which indicates a further downward move may follow. Despite this, the S&P could begin to recover as it approaches significant support, now 24.81 points away from 4,112.83. Dipping below could be an indication that further losses are ahead.

In general, examining the technical analysis landscape, although indicators are mixed further drawbacks may be next for the S&P.

Positive performances can be seen by looking at other markets as Hang Seng increases 1.68% Friday and closed at 20,439. FTSE is trading around 7,912.5 after ending Friday's session at 7,872 (up 0.52% today).

Furthermore, United States Building Permits (Mar) is scheduled for tomorrow at 12:30 UTC.

The index has been trending positively for about a month. The S&P 500 hit a significant low of 3,577 around 6 months ago, but has since recovered 15.91%.