IS THE US STOCK MARKET READY FOR ITS CORRECTION (S&P ANALYSIS)
ที่อัปเดต:
This is the scenario we are currently looking at (EXPLAINED BELOW):
As you know, we recently had the WORST Dow Jones single-day drop in history. (That's the last I'll speak of the DOW, now lets analyze a true index).
The S&P has shown us signs that maybe it's ready to correct too. We see the weakly chart giving us a STRONG bearish engulfing candle at a top with extreme agreement across many indicators. We then see it make an attempt (arguably) at lower lows on the daily chart, confirmed by downward momentum.
SO WHAT'S NEXT?
Well of course we don't know- but here's my outlook based on the technical analysis. We will see a pullback SOON. This pull back will take us up in to the area I have labeled POSSIBLE RANGE. From here- the market will decide what it wants. If it wants to remain bullish we may see it get stuck in a range for some time, before breaking the ranging ceiling and achieving new highs. IF it decides to go bearish, the pullback will result in a selloff and we will fall down to the levels listed on the chart.
HAPPY TRADING. QUESTIONS WELCOMED BELOW.
As you know, we recently had the WORST Dow Jones single-day drop in history. (That's the last I'll speak of the DOW, now lets analyze a true index).
The S&P has shown us signs that maybe it's ready to correct too. We see the weakly chart giving us a STRONG bearish engulfing candle at a top with extreme agreement across many indicators. We then see it make an attempt (arguably) at lower lows on the daily chart, confirmed by downward momentum.
SO WHAT'S NEXT?
Well of course we don't know- but here's my outlook based on the technical analysis. We will see a pullback SOON. This pull back will take us up in to the area I have labeled POSSIBLE RANGE. From here- the market will decide what it wants. If it wants to remain bullish we may see it get stuck in a range for some time, before breaking the ranging ceiling and achieving new highs. IF it decides to go bearish, the pullback will result in a selloff and we will fall down to the levels listed on the chart.
HAPPY TRADING. QUESTIONS WELCOMED BELOW.
บันทึกช่วยจำ
We are holding at the bottom of the range. Will be interesting if we head back up to 2873 to break the range and FALLบันทึกช่วยจำ
UPDATE TO POSSIBLE LOW: 2246, NOT 2195บันทึกช่วยจำ
As we can see... this last support level is HUGE.Interesting to see what the SPX will do from here.
คำจำกัดสิทธิ์ความรับผิดชอบ
ข้อมูลและบทความไม่ได้มีวัตถุประสงค์เพื่อก่อให้เกิดกิจกรรมทางการเงิน, การลงทุน, การซื้อขาย, ข้อเสนอแนะ หรือคำแนะนำประเภทอื่น ๆ ที่ให้หรือรับรองโดย TradingView อ่านเพิ่มเติมที่ ข้อกำหนดการใช้งาน