Sforex
Short

S&P500: This stage is belong to the BEAR

SP:SPX   The S&P 500 Index
319 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.

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
Reply
English
English (UK)
English (IN)
Deutsch
Français
Español
Italiano
Polski
Türkçe
Русский
Português
Bahasa Indonesia
Bahasa Melayu
ภาษาไทย
Tiếng Việt
日本語
한국어
简体
台灣
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out