SPDR S&P 500 ETF TRUST
Long

There's no trend, just consolidation

388
For the last few weeks, after making an inverse Head and Shoulders, the trend just faded away around the support lines of the main two ribbons. The momentum has consolidated around the Zero Line, which means there's indecision in the market, and the Trend strength is at the bottom with no indication so far of a reignition. Since the market hasn't fallen, this signals an accumulation point. My expectations are there will be a rally that will try to reach the previous highs. Still I am not so optimistic as to think there will be another all time high, but rather a bull trap rally.

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.