SP500 could correct to 3500, I'm waiting for confirmation
Since the "election all-time high" just under 3700, SP500 continued its rise, but this is anemic to say the least with the index gaining around 3% in the past 2 months.
The rise is in a tight channel which for me is an indication of an imminent reversal.
A break under this channel's support can be the signal for sellers and 3500 is a very modest target for this trade(I believe it will drop harder)
The rise is in a tight channel which for me is an indication of an imminent reversal.
A break under this channel's support can be the signal for sellers and 3500 is a very modest target for this trade(I believe it will drop harder)
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