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Note:This technical analysis is for educational purposes. Please conduct your own analysis or consult a financial advisor before making investment decisions. The author of this article may hold long or short positions in the featured stocks or indexes.
© 2019 TradeOnline.ca InvestOnline.ca
S&P 500 cleared resistance at 2600 and it cleared the 50-day average. The next resistance zone is the downward sloping trendline and the 200-day average.
Reference my last post on the S&P 500 Index.
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Note:This technical analysis is for educational purposes. Please conduct your own analysis or consult a financial advisor before making investment decisions. The author of this article may hold long or short positions in the featured stocks or indexes.
© 2019 TradeOnline.ca InvestOnline.ca
Reference my post on the retracement levels for the S&P 500.
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Note:This technical analysis is for educational purposes. Please conduct your own analysis or consult a financial advisor before making investment decisions. The author of this article may hold long or short positions in the featured stocks or indexes.
© 2019 TradeOnline.ca InvestOnline.ca
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Can the 50% retracement hold before the bear bites?
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The view on the weekly chart shows the index trading below the 40-week moving average. RSI and MACD are both confirming the bearish sentiment. It will test 2550 to 2600 support zone.
Reference a previous post as the S&P 500 was attempting to hold the 40-week moving average.
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Here is the view and the setup on the weekly chart
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Here is the view and the setup on the daily chart
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