S&P500 Bearish Breakout! What's Next?

20 de set. de 2021

Hello,Traders!
S&P500 broke out of the rising wedge
With the gap, most likely on the fears
Of the Evergrande default crisis in China
Which might spark a chain default reaction
In China and across the globe
If Beijing does not intervene
Taking of the SPY, I don't think that this is the end
Of the bullish rally, but a healthy correction is needed
So I am expecting the price to drop
To the technically and psychologically important level of 400$
Which would give us a 10% correction from the all time high
From that level the growth shall continue
Until the FED stops its easing program
Sell!
Like, comment and subscribe to boost your trading!

See other ideas below too!