Indice S&P 500Short
UP, UP, and... correction.
On Friday a significant round level of 5100 points on S&P 500 was tested. Buying should still be reasonably cautious due to the presence of triple divergence on the RSI indicator. Short-term consolidation is likely. The nearest support is around 5040 points, and a potential sentiment reversal point is located around 4950 points (recent low in the area of the 20-day moving average).
It seems reasonable that some consolidation must take place after many weeks of growth, which mostly was attributed to growth either of Magnificent 7 stocks, or chip producers (SOX index). Many large cap stocks have peaked at ATH, and historically after the index breaches ATH, there’s up to 5-10% correction.
It seems reasonable that some consolidation must take place after many weeks of growth, which mostly was attributed to growth either of Magnificent 7 stocks, or chip producers (SOX index). Many large cap stocks have peaked at ATH, and historically after the index breaches ATH, there’s up to 5-10% correction.
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.