Hi there,
The S&P 500 has pushed below the significant resistance level of 5821.54, with an immediate target at 5370.17 before reaching major support around the 5218 region. We could potentially see a further drop to 4500, with 4719.87 on the way.
It will require monitoring, and the bias is at 4026.79.
Happy Trading,
K.
Not trading advice
The S&P 500 has pushed below the significant resistance level of 5821.54, with an immediate target at 5370.17 before reaching major support around the 5218 region. We could potentially see a further drop to 4500, with 4719.87 on the way.
It will require monitoring, and the bias is at 4026.79.
Happy Trading,
K.
Not trading advice
Trade active
That is fine; I am expecting an even push lower. Profit-taking may be ideal and assess.Trade closed: target reached
We are not out of the bearish trend yet. The price has risen to 5456.89, generating excitement in the market; however, we remain under a significant resistance zone. This could also indicate an extended ABC pattern for wave four before the final drop of wave five. 🦉
Khiwe.
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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.