Ok, This rally hit a wall! Why am I bearish...
As you can see the 50% retrace is tested and closed below. The price hit upper resistance of rising wedge and upper BB. The daily cloud is no where near a green twist and is encountering resistance at the bottom of the cloud. Notice the descending YELLOW trendline is acting as resistance.
I believe S&P will head lower to the previous ATH support from Feb 2020, that RED line at 3400.
IF, S&P can conquer all these above mentioned resistance points, then BULL SPEED ahead to new ATH! I sure don't think that will happen, yet.
Good Luck
As you can see the 50% retrace is tested and closed below. The price hit upper resistance of rising wedge and upper BB. The daily cloud is no where near a green twist and is encountering resistance at the bottom of the cloud. Notice the descending YELLOW trendline is acting as resistance.
I believe S&P will head lower to the previous ATH support from Feb 2020, that RED line at 3400.
IF, S&P can conquer all these above mentioned resistance points, then BULL SPEED ahead to new ATH! I sure don't think that will happen, yet.
Good Luck
Nota
S&P has pulled back and finding some support at 3760.Nota
Here is the retest, and now will move lower
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.