Here is an short update from last ta for S&P 500
Sp500 is moving in range from 2600 to 2940.
SP500 bounced off three times of 61 Fib (2940 resistance). You can also call it "scratching the Fibo", if you want so.
Volume is going down slowly.
I think, its the most hated rally since long a time, if I take a look on low volume and the different views from analyst. The bearish group sees a big drop (like me) cause of fundamental weakness, the bullish boys dont want to fight the fed and going long.
Honestly I cant say if it will go up or down, so Im neutral going with market in short term. Thats my opinion.
Any comments are welcome :)
Good luck for your trading
Sp500 is moving in range from 2600 to 2940.
SP500 bounced off three times of 61 Fib (2940 resistance). You can also call it "scratching the Fibo", if you want so.
Volume is going down slowly.
I think, its the most hated rally since long a time, if I take a look on low volume and the different views from analyst. The bearish group sees a big drop (like me) cause of fundamental weakness, the bullish boys dont want to fight the fed and going long.
Honestly I cant say if it will go up or down, so Im neutral going with market in short term. Thats my opinion.
Any comments are welcome :)
Good luck for your trading
May be, professionals are now under pressure to buy.