The index is nearing resistance this week with "Nasdaq" and "Russell 2000" lower yesterday increasing the risk that the "S&P 500" follows lower today.
This is a neutral outlook. Based upon my previous chart the most likely path for the next days is a pullback. But until the open gap between 2741.47 to 2741.38 is filled the bulls continue to have strong target higher.
Open Gaps
Direction: up
May-10-2018
2701.27 to 2704.54
Direction: down
Mar-19-2018
2741.47 to 2741.38
Direction: down
Feb-02-2018
2812.7 to 2808.92
Direction: down
Jan-30-2018
2851.48 to 2837.75
The path taken so far has been the gray colored upmove fractal. If this repeats then the "S&P 500" could be lower during the next days.
This is a neutral outlook. Based upon my previous chart the most likely path for the next days is a pullback. But until the open gap between 2741.47 to 2741.38 is filled the bulls continue to have strong target higher.
Open Gaps
Direction: up
May-10-2018
2701.27 to 2704.54
Direction: down
Mar-19-2018
2741.47 to 2741.38
Direction: down
Feb-02-2018
2812.7 to 2808.92
Direction: down
Jan-30-2018
2851.48 to 2837.75
The path taken so far has been the gray colored upmove fractal. If this repeats then the "S&P 500" could be lower during the next days.
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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.
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.