S&P 500: All Time HIGHS?
Updated
Despite the binary expectations of analysts (if HC wins long, if DT wins short) we saw an amazing rebound followed by a green day. Apart from the unexpected price action, the MACD is also giving a buy signal. The 200DMA and 50DMA haven't crossed over, and thus I don't think this is the top. I would not be suprised if the price were to reach previous ATH or even create new ones. Still, despite the euphoric buying, I will not trade on either side the SP5000. I will wait though for a top to form and then try to catch a good short entry. I will also NOT trade volatility and would recommend you to do so as well, unless you are very advanced.
Trade closed: target reached
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.