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
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Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.