MetaWave

Current outlook on S&P

SP:SPX   S&P 500 Index
Looking at the daily chart of the S&P 500 we can see that the index is coming up to re-test the 200 day SMA. The Advance Decline line is coming up on an important point in an ascending wedge. The Pring Special K is also at an important point, a resistance level that hasn't been seen since June 2016. A break through the resistance levels on both indicators and the index would lead me to expect it to continue to the next resistance at 2818.77.

Disclaimer

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.