Sforex
Short

S&P500: This stage is belong to the BEAR

INDEX:SPX   S&P 500 Index
318 1 3
Indeed, I was very surprised about the strongly and agressively 'sell-off" of US Equity on Thursday and Friday.

IF you want to find a good reason to blame: Ask China.

I worry that this will not be easy to stop.

OUR WORLD IS FACING A POTENTIAL DEPRESSION AND THE MAIN CAUSE COMES FROM CHINA: THE SECOND LARGEST ECONOMY IN THIS WORLD.

I think that it's very dangerous to hold stock currenctly because the downtrend is controlling market.

What I am thinking is where is stop of this downtrend.

Look at on the chart, I show you some potential supports whichS&P500 could test in the future.

Next week, I think US Equity market would continue its depreciation.

Only a strong data could hold Stock halts its decline.
And the data market pays attention are:
- US GDP
- US Durable Good Orders

Honestly, I don't believe those data could beat the Consensus.

However, I still hope a brighter future : US is the largest economy , only FED is thinking about monetary tightening, US should drag others from next Depression.

Killy_Mel
a year ago
To me it looks like one of those August drops, price needs to recharge before going back in the lateral uptrend... Iran question can cause some volatility in September tho
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