S&P 500 IndexLong
SPX Monthly turning to Bullish
Updated
World economic recession threat is disappearing although US 4th Quarter GDP was a little disappointing but the growth is there. S
P500 is still above 100 moving average which is a sign of upward pressure. It is expected that upward trend forms in March. 3600 level has formed a firm support level and before that 3900 level should be lost which is not expected to be easy. Ichimoku indicator is in line with the support level of 3900 as well.
P500 is still above 100 moving average which is a sign of upward pressure. It is expected that upward trend forms in March. 3600 level has formed a firm support level and before that 3900 level should be lost which is not expected to be easy. Ichimoku indicator is in line with the support level of 3900 as well. Note
Jerome Powell speech pushed S&P 500 down but still Ichimoku is valid to support around 3900.Note
support level 3900 is lost.
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.