ChartArt

Key S&P 500 long-term trend decision this week

FX:SPX500   S&P 500 index of US listed shares
123 0 5
Either the market simply cashes out and turns the rally of the last days into a very large dead cat bounce with a devil-may-care attitude. Or the current weakness gets bought back up this week, turning the recent decline into a "buy the dip" opportunity, preventing the end of the overall stock market bubble by leaving the chance of a higher all-time high breakout in the next weeks.

So far the market remains still bullish inside the smaller uptrend channel , above the 200 day SMA with a bearish turning MACD inside the larger downtrend channel . Because of this tough decision I remain neutral until I see a clear trend this week.
Comment: Obviously the market took the new direction down instead of a continuation of the uptrend.

Perma-bulls might still buy next Monday-Tuesday, because the price is still a tiny bit bullish inside this channel, but to me it looks like buying a falling knife.

snapshot
United States
United Kingdom
India
España
France
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
Malaysia
日本
한국
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing Priority Support Ideas Published Followers Following Private Messages Chat Sign Out