InvestMate💲 S&P500 Further increases? I Don't Think So 💲

💲 S&P500 Further increases? I Don't Think So

💲 Nearest strong support zone: around the fibo levels of the 0.382 downward wave.

💲 Nearest strong resistance zone: around local peaks.

💲 Technical environment:

📊 Moving averages: Uptrend

📊 MACD: Downtrend

📊 RSI: Uptrend

💲 Price action: the S&P500 has bumped up all of +0.85% for the moment today. Monday's optimism returned to the stock market. The question is how long it will last. In my opinion, for a short time. Looking at the price formation, I expect the declines to continue in the coming hours/days. I don't think the stock market has enough strength at this point to reach new highs.

📉 The scenario I am playing out is the start of declines. I do not exclude changing the scenario in case of a sudden change in the market situation. I am aware of the possibility of a correction at any time, this should be taken into account, If the outlook changes I will publish a post with an update, so I encourage you to actively follow the profile and carefully read the description.

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