S&P500 Technical Analysis - Bullish Despite Weekly Gains Decline
-In the week of July 20-25th, tensions between US and China has been rising, COVID-19 cases keeps on rising and with recent earnings Tech Stocks have taken quite a dive as the week closed (bearish sentiment) , but apart from current fundamentals, .... technical analysis shows us that we have been bullish since the March Lows and are currently trending and following that trendline support.
-the bullish case can be invalidated if we ever come to break below 3000& S&P500, so far so good, we are having a correction but we should continue to trend up and possible hit higher highs just as the Nasdaq (NAS100) ...
- also at the time of writing, the RSI is dropping soon to sub-30 which could indicate the market is oversold which can lead to us bouncing from here sooner or later.
Thank you for looking into my technical analysis I hope you a happy & safe trading ... My GOAL is to help people make money & show AUTHENTIC + TRANSPARENT track record of my success/failures in the forex market and stock market.
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-the bullish case can be invalidated if we ever come to break below 3000& S&P500, so far so good, we are having a correction but we should continue to trend up and possible hit higher highs just as the Nasdaq (NAS100) ...
- also at the time of writing, the RSI is dropping soon to sub-30 which could indicate the market is oversold which can lead to us bouncing from here sooner or later.
Thank you for looking into my technical analysis I hope you a happy & safe trading ... My GOAL is to help people make money & show AUTHENTIC + TRANSPARENT track record of my success/failures in the forex market and stock market.
PEACE OUT ! MUCH LOVE !
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