US Stock market in Danger Zone | SP500 analysis, thoughts
I am neutral on US stock market, because SP500 following rising channel since Summer of 2020 (post-Covid crash).
Now price located at lower bound of the channel which gives us 2 opportunities for December and January
> If price can hold above 4400 and rise above 4600 , most likely we going to reach 5000 during January.
.But.
> If price break the channel support below 4430 and close below it, we going to see sharp correction within -20-30% range (3800-3200 prices)
Both of the actions will be buying opportunities for 2022, but in case of channel breakdown we going to decrease exposure on markets and keep it in cash for small period of correction.
Stay positive and healthy!
Best regards
Artem Shevelev
Now price located at lower bound of the channel which gives us 2 opportunities for December and January
> If price can hold above 4400 and rise above 4600 , most likely we going to reach 5000 during January.
.But.
> If price break the channel support below 4430 and close below it, we going to see sharp correction within -20-30% range (3800-3200 prices)
Both of the actions will be buying opportunities for 2022, but in case of channel breakdown we going to decrease exposure on markets and keep it in cash for small period of correction.
Stay positive and healthy!
Best regards
Artem Shevelev
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