Ok, This rally hit a wall! Why am I bearish...
As you can see the 50% retrace is tested and closed below. The price hit upper resistance of rising wedge and upper BB. The daily cloud is no where near a green twist and is encountering resistance at the bottom of the cloud. Notice the descending YELLOW trendline is acting as resistance.
I believe S&P will head lower to the previous ATH support from Feb 2020, that RED line at 3400.
IF, S&P can conquer all these above mentioned resistance points, then BULL SPEED ahead to new ATH! I sure don't think that will happen, yet.
Good Luck
As you can see the 50% retrace is tested and closed below. The price hit upper resistance of rising wedge and upper BB. The daily cloud is no where near a green twist and is encountering resistance at the bottom of the cloud. Notice the descending YELLOW trendline is acting as resistance.
I believe S&P will head lower to the previous ATH support from Feb 2020, that RED line at 3400.
IF, S&P can conquer all these above mentioned resistance points, then BULL SPEED ahead to new ATH! I sure don't think that will happen, yet.
Good Luck
Nota
S&P has pulled back and finding some support at 3760.Nota
Here is the retest, and now will move lower
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.