S&P 500. Downtrend month for the US index. A tired and not very volatile opening of adjustment between 3.233 and 3.272 is expected for today, in response to European markets that are shyly trying to recover the opening losses. For Monday, a possible downward breakout below 3.230 could open a phase of consolidation of the downtrend directly until 3150 pending the hot pre-electoral phase and pandemic evolution. Only a push above 3275 could anticipate the resumption of an uptrend.
Trade closed: stop reached:
As expected on monday 25th of September buyers pushed the index above 3275 starting a new uptrend. In a few days we will know if prices are creating a double top pattern or the uptrend will continue in medium-long term, at least until elections 2020.