SPX S&P500 a tad overbought?
If we use the 200 Monthly Moving Average as an indicator of where generally price point moves above and below then SPX could be due for a teensy correction...
Our chart indicates a top of around 3000 but also shows two other possibilities; a blow off top at the next fib level 4700 and
/or a corrective back to the 1500 level which would also be a major support retest. Thinking there's still enough steam to get us to the 3000-3100 and then a bear market but that's an opinion.
Where will the money flow once the bigger correction gets underway? Any ideas out there? Love to hear from you.
Our chart indicates a top of around 3000 but also shows two other possibilities; a blow off top at the next fib level 4700 and
/or a corrective back to the 1500 level which would also be a major support retest. Thinking there's still enough steam to get us to the 3000-3100 and then a bear market but that's an opinion.
Where will the money flow once the bigger correction gets underway? Any ideas out there? Love to hear from you.
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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.