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S&P500 - short a breakdown of 2020 lows trend line

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Indeks S&P 500 (OANDA:SPX500USD)  
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OANDA:SPX500USD   Indeks S&P 500
Trend Analysis Support and Resistance Trend Lines
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trendanalysis supportandresistance trendline
Market is overheated - US Dollar Index is reversing and fears of inflation have been weighing on Bond markets in recent weeks.

IF the 2020 lows trend line breaks down we may see a more pronounced pullback - targets below:

  • TP1 - 3830-3815 - bottom of ascending broadening wedge (generally a bearish pattern so if this breaks down further targets are below)
  • TP2 - 3765.9 - 100 day MA
  • TP3 - 3541.3 - 200 day MA
Komen:
Comment: Price always returns to 200 day MA (red).

snapshot

That being said there is of course a chance it continues higher here before a larger pullback.

Idea Berkaitan

Vanillasagna
DXY to 93.5 - may see further pull back in equities
Penafian

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