S&P500 Technical Analysis - Bullish Despite Weekly Gains Decline
-In the week of July 20-25th, tensions between US and China has been rising, COVID-19 cases keeps on rising and with recent earnings Tech Stocks have taken quite a dive as the week closed (bearish sentiment) , but apart from current fundamentals, .... technical analysis shows us that we have been bullish since the March Lows and are currently trending and following that trendline support.
-the bullish case can be invalidated if we ever come to break below 3000& S&P500, so far so good, we are having a correction but we should continue to trend up and possible hit higher highs just as the Nasdaq (NAS100) ...
- also at the time of writing, the RSI is dropping soon to sub-30 which could indicate the market is oversold which can lead to us bouncing from here sooner or later.
Thank you for looking into my technical analysis I hope you a happy & safe trading ... My GOAL is to help people make money & show AUTHENTIC + TRANSPARENT track record of my success/failures in the forex market and stock market.
PEACE OUT ! MUCH LOVE !
-the bullish case can be invalidated if we ever come to break below 3000& S&P500, so far so good, we are having a correction but we should continue to trend up and possible hit higher highs just as the Nasdaq (NAS100) ...
- also at the time of writing, the RSI is dropping soon to sub-30 which could indicate the market is oversold which can lead to us bouncing from here sooner or later.
Thank you for looking into my technical analysis I hope you a happy & safe trading ... My GOAL is to help people make money & show AUTHENTIC + TRANSPARENT track record of my success/failures in the forex market and stock market.
PEACE OUT ! MUCH LOVE !
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.