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SPX 500, Daily
Short
Updated

Market has shifted to a lower rising channel. Correction due

215
I believe the market has discounted the tariff effect and now shifted to a lower channel.
If that is the case, then a normal correction of 5% is imminent, as it encounters multiple resistance trendlines. The inflation (CPI) numbers on 13 May could be a catalyst
Trade active
SPX broke through the resistance and back inside the old channel. I have to cancel my previous assumption of falling into a new channel
krisoz
Chart PatternsSPX (S&P 500 Index)S&P 500 (SPX500)Trend Analysis

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Chart PatternsSPX (S&P 500 Index)S&P 500 (SPX500)Trend Analysis
krisoz

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.