Click chart above to see the detailed analysis👆🏻
Over the past couple of years, the S&P500 has perfectly been respecting the trendlines of a rising channel formation. After the recent rally of +70%, it is quite likely that - following the 2020 cycle - we will see another final rally of about +20% before the S&P500 will correct itself.
Click chart above to see the detailed analysis👆🏻
Slowly but steadily the S&P500 is heading higher and higher. All resistance is about to be broken, which simply means that new all time highs will be followed by more all time highs. Bullruns can continue a lot longer than most people think and they end with a parabolic rally.
Click chart above to see the detailed analysis👆🏻
For almost half a year we have not seen any real price movement on major U.S. indices but instead we witnessed a major consolidation phase. Keeping in mind the overall valid bullish uptrend, it remains super likely that this is just a short term bullish breath-taking relief.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.