SP500 recovery or dead cat bounce?
Hi traders this analysis is very simple and uses some basic methods.
I'm using the "filling gaps" method, the SP500
During the last years this method has been simple but effective.
I'm worried about the gap left in November 2020, the SP can easily go and fill it considering we are only 15% above it, and in June 2022 we dropped 12% in a single week.
This gap confluates with the ATH before the COVID crisis, so by technical analysis we know:
“Previous resistance, now new support.”
So I am considering a bounce of the SP500 until 4000 and then possible sell off.
All financial markets follow SP500 including crypto.
So I'm expecting a DEAD CAT BOUNCE on all markets.
I'm using the "filling gaps" method, the SP500
During the last years this method has been simple but effective.
I'm worried about the gap left in November 2020, the SP can easily go and fill it considering we are only 15% above it, and in June 2022 we dropped 12% in a single week.
This gap confluates with the ATH before the COVID crisis, so by technical analysis we know:
“Previous resistance, now new support.”
So I am considering a bounce of the SP500 until 4000 and then possible sell off.
All financial markets follow SP500 including crypto.
So I'm expecting a DEAD CAT BOUNCE on all markets.
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