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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
Daily chart of the S&P 500 showing the near-term downtrend and the support zone near the 200-day simple moving average.
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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
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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This is a tentative breakout worthy of a headline but not a trade. Wait for a confirmed breakout. You will know.
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The following chart was published in The Economist
Published in The Economist
https://www.economist.com/finance-and-economics/2018/08/23/americas-stockmarket-passes-a-milestone
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The S&P 500 is holding at the 200-day average. The near-term trend is positive and I am looking for a test near the April high of 2717. A breakout above the April high would be a positive near-term signal for the S&P 500.
Here is a live 4-year weekly chart for the S&P 500 Index.
Reference my last post for the S&P 500 index.
Here was my post on the sector performance.
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