S&P500 future – After previous analysis, 3870 held and we reached our upside targets at 3900 – 3920 and for now 3940.
Bear scenario:
It is important for bulls that the price zone at 3870 and 3880 not undercut. Should this price zone be undercut, a furhter correction could push the bulls back into our price zone of 3830 - 3820 ect.
Bull scenario:
The next upside target is at 3950 - 3970 and then 4005. Upside and downside targets see chart.
January 9th I wrote Many have been skeptical of this market all the way up and they have sold and sold and sold this market all the way up - and they remain so. Will we see corrections and pullbacks? YES!
This melt-up will continue to be fueled by expectations of much more fiscal stimulus until the melt-down. But first the melt up - take one step at a time.
A bear market is when a market typically fall 20% or more from recent highs.
Notice how the market moves we see short and sharp corrections this is typical in the late stage of rallies - usually new highs will follow.
Bear scenario:
It is important for bulls that the price zone at 3870 and 3880 not undercut. Should this price zone be undercut, a furhter correction could push the bulls back into our price zone of 3830 - 3820 ect.
Bull scenario:
The next upside target is at 3950 - 3970 and then 4005. Upside and downside targets see chart.
January 9th I wrote Many have been skeptical of this market all the way up and they have sold and sold and sold this market all the way up - and they remain so. Will we see corrections and pullbacks? YES!
This melt-up will continue to be fueled by expectations of much more fiscal stimulus until the melt-down. But first the melt up - take one step at a time.
A bear market is when a market typically fall 20% or more from recent highs.
Notice how the market moves we see short and sharp corrections this is typical in the late stage of rallies - usually new highs will follow.
Germany30 and S&P500 Intraday analysis August 23rd. and weekly update 34. Posted at twitter: twitter.com/SP500_Dow
