THE S&P 500, THE BEARISH ENCOUNTERS ARENT OVER YET!!!
Hello,
Welcome to this analysis of the S&P 500 from the daily timeframe perspective. Since the S&P 500 showed up with heavy pullbacks from its top established in January 2022 the financial markets are in a shock and asking where the S&P 500 will move next and if the bearish declines are over yet or there is more to come. When looking at the economical situation the world population needs to admit that we are still in an uncertain situation with the economy damaged by the Corona Virus pandemic way not recovered and where it was before the pandemic. Besides that, the disruption of Supply Chains is going on and is increasing because of the geopolitical conflict situations. Furthermore, there is accelerated inflation and central banks are trying to catch the train too late to tackle inflation by increasing the interest rates. When looking at the technical side of the situation it needs to be stated that it is in line with the fundamental side as when looking at my chart the S&P 500 is building this main descending channel with a wave-count within and the wave B forming the bear flag within this wave count. When the S&P 500 now moves below the lower boundary of the flag this will be the setup for wave C and continuation in this direction. If the bear flag completes this will activate the target zone as seen in my chart and from there on the situation needs to be assessed again. In any case, for now, we should not underestimate the bearish scenario here and be prepared for upcoming volatilities, it will be a crucial development ahead.
In this manner, thank you for watching the analysis, all the best!
"The high destiny of the market is to explicate, rather than to speculate."
Information provided is only educational and should not be used to take action in the markets.
Welcome to this analysis of the S&P 500 from the daily timeframe perspective. Since the S&P 500 showed up with heavy pullbacks from its top established in January 2022 the financial markets are in a shock and asking where the S&P 500 will move next and if the bearish declines are over yet or there is more to come. When looking at the economical situation the world population needs to admit that we are still in an uncertain situation with the economy damaged by the Corona Virus pandemic way not recovered and where it was before the pandemic. Besides that, the disruption of Supply Chains is going on and is increasing because of the geopolitical conflict situations. Furthermore, there is accelerated inflation and central banks are trying to catch the train too late to tackle inflation by increasing the interest rates. When looking at the technical side of the situation it needs to be stated that it is in line with the fundamental side as when looking at my chart the S&P 500 is building this main descending channel with a wave-count within and the wave B forming the bear flag within this wave count. When the S&P 500 now moves below the lower boundary of the flag this will be the setup for wave C and continuation in this direction. If the bear flag completes this will activate the target zone as seen in my chart and from there on the situation needs to be assessed again. In any case, for now, we should not underestimate the bearish scenario here and be prepared for upcoming volatilities, it will be a crucial development ahead.
In this manner, thank you for watching the analysis, all the best!
"The high destiny of the market is to explicate, rather than to speculate."
Information provided is only educational and should not be used to take action in the markets.
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The S&P 500 since it completed the whole bear flag formation massively increased the bearish momentum and reached all of the projected target zones.