#SP500 is in a down phase since March 2022
- On the daily time frame, the bearish structure is forming sustainably with the continuous creation of HL-LL (Higher low, lower low); The price line has lost its balance and is completely below the averages;
The important support zone at 4170 has broken down, supporting the mid- and long-term correcting trend;
- On weekly time frame, the index is moving sideways with a amplitude of ~10%; we can easily see that a double top pattern is forming, and when combined with a downtrend structure => It is in favor of continuing the strong correcting trend in the next period;
- On the daily time frame, the bearish structure is forming sustainably with the continuous creation of HL-LL (Higher low, lower low); The price line has lost its balance and is completely below the averages;
The important support zone at 4170 has broken down, supporting the mid- and long-term correcting trend;
- On weekly time frame, the index is moving sideways with a amplitude of ~10%; we can easily see that a double top pattern is forming, and when combined with a downtrend structure => It is in favor of continuing the strong correcting trend in the next period;
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- Looking at the market as a whole, the April 2022 candlestick closed with very bad signals, the MACD indicator crossed and the histogram opened 2 red candles;
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* TRADE PLAN:
- Potential zone #SP500 index will head to next (3510~3600); We will find it safer to open a Short/Sell position
- Set stoploss for each trading order, do not hold long-term stocks in the next period.
- Potential zone #SP500 index will head to next (3510~3600); We will find it safer to open a Short/Sell position
- Set stoploss for each trading order, do not hold long-term stocks in the next period.
Comentário: