MY OPINION: BEARISH UNDER 2,930.75 USD MY TARGETS: 2,744.45 USD (-3.05%) 2,581.29 USD (-8.81%) TRENDS: Court terme: STRONGLY BEARISH De fond: BEARISH MY ANALYSIS: In the short term, we can see an acceleration in the bearish trend on S&P500 INDEX, which is a positive signal for sellers. As long as the price remains above 2,930.75 USD, a sale could be considered. The first bearish objective is located at 2,744.45 USD. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 2,581.29 USD as an objective. Crossing it would then enable sellers to target 2,351.10 USD. If the price were to return above 2,930.75 USD, it would probably only trigger a small rebound in the short term to give a better base for restarting. Trading this rebound may be risky.
Technical: Technical analysis of this Weekly chart of S&P500 INDEX indicates that the overall trend is bearish. The signals given by moving averages are 64.29% bearish. This bearish trend is reinforced by the strong signals currently being given by short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves. An assessment of technical indicators does not currently provide any relevant information on the direction of future price movements.
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