InvestMate 💲 S&P500 Expected Declines 💲

6 de fev. de 2023

💲 S&P500 Expected Declines

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

💲 Nearest strong resistance zone: around recent peaks.

💲 Technical environment:

📊 Moving averages: Uptrend

📊 MACD: 50/50

📊 RSI: Uptrend

💲 Price Action: S&P500 Bounces off a strong resistance zone as I wrote in my last post:

As I wrote, I expect to make a small flat correction before further increases because the formations from the higher intervals are very pro-growth. Therefore, it looks to me that we won't even reach the support zone with the current declines, but we will start forming the uptrend continuation formation later this week above the strong support zone.

📉 The scenario I am playing out is to wait for the correction to end and join the continuation of the uptrend. I don't exclude the possibility of changing the scenario if the market situation changes abruptly. I'm 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 read the description carefully.

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9 de fev. de 2023

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