S&P 500 Weekly Daily Chart Analysis For August 16, 2021

TVC:SPX   S&P 500 Index
Technical Analysis and Outlook
The S&P 500 fell 2.5% on Monday, at one point in the week, and on Thursday provided us with Rinse and Repeated buying opportunity (Mean Sup $4,368-Mean Sup $4,385 zone). As specified on Weekly Daily Chart Analysis For August 2, 2021, the main target is Outer Index Rally $4,483 and newly created the Key Res $4,480. The very low downside scenario is revisiting the ''Rinse and Repeat'' buying zone. See the 'Weekly Market Review & Analysis For August 16, 2021" page at the usual site for the rest of the market story.

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.