Similarly, like in the case of QQQ, we also maintain a bearish notion on SPX. Our price target stays at 4 000 USD.
Technical analysis - daily time frame RSI, MACD, and Stochastic are bearish. DM+ and DM- are bearish too. ADX paused a climb and dipped lower. The daily time frame structurally coincides with QQQ and is bearish.
Technical analysis - weekly time frame RSI, MACD, Stochastic, DM+, and DM- are all bearish. ADX increases, which indicates that the bearish trend is gaining strength. Overall, the weekly time frame is bearish.
Please feel free to express your ideas and thoughts in the comment section.
DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not serve as a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
Trade closed: target reached
⋅
SPX reached 4 001.05 USD; since it almost reached our price target, we would like to update it to 3800 USD.
@Future_Wei, A, B, and C at totally different price levels than what your lines lie at - guess like your other ideas. Additionally, there is nothing "clairvoyant" about forecasting a crash this year with the tightening and less QE. I am not interested in your thoughts, and it seems no one else is, so stop spamming them everywhere as proof of your ego. It just embarrasses you even more. Why do not you publish all your ideas which did not work out? Do you keep spamming only those 4 out of 50 that worked out (despite just being luck)?
Future_Wei
⋅
Agree with the analysis, I forecasted it way ahead of time.
Tradersweekly
⋅
@Future_Wei, No one cares about your guesses with no explanation; and stop spamming all my ideas. Try to forecast something more particular, pretty much anyone can call for a crash or a new ATH a few years into the future, and most likely, it will occur. Nothing impressive.