Took a shot at the longer term trend of the S&P 500 from April through today. Looking to Monday to confirm my analysis.
What do you think?
- If the down trend holds, then I expect the S&P 500 to establish a resistance level at 2950 and test the support of 2800 over the coming weeks.
- If it rebounds, then up to 3140 or maybe even 3200.
What do you think?
Note
Found this Wyckoff chart. It is almost a perfect match.school.stockcharts.com/lib/exe/fetch.php?media=market_analysis:the_wyckoff_method:wyckoffdistribution2.png
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.
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.