S&P 500 is in danger
Updated
since Jun 29th, 2020, S&P 500 has been in a healthy uptrend .
in its up trend movement , price has been respected to the zone between SMA50 and SMA 100.
now, the zone is broken and is acting as dynamic resistance. last week we had a pullback to broken zone.
so, in this moment 2 scenarios are more expectable:
1 - a deep reverse and a big bear market for at least 1 to 3 months.
2. a long range market in a channel between 4200-4600
now in my Idea , cash is KING.
in its up trend movement , price has been respected to the zone between SMA50 and SMA 100.
now, the zone is broken and is acting as dynamic resistance. last week we had a pullback to broken zone.
so, in this moment 2 scenarios are more expectable:
1 - a deep reverse and a big bear market for at least 1 to 3 months.
2. a long range market in a channel between 4200-4600
now in my Idea , cash is KING.
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topping is clear.one another singe of topping is the weak stocks behavior .they were going low when the general market was bul. and now they are increasing sometimes.
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price action is working, Russia is a catalyst onlyTrade active
welcome to the official territory of Bears
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