☑️S&P500: Is it a collapse?

➡️ Short-term view for the index is in favor of sellers. The instrument descends to the level of 4582$ and possibly even to 4540.77$. The main pressure on the S&P500 comes from the actions of the Fed, as well as news on the current situation regarding COVID-19. You can look for a sell entry point in the price area of ​​the level 4689.7$. The main selling target lies at 4647.3$.

But far, perhaps this is not the limit and a deeper fall awaits us. Here is the chart below to help.

Quotes on the S&P500 index continue to move inside the rising channel . The bull market is still stable. At this stage, the instrument is approaching the channel support line and, at the same time, a serious support area . Thus, creating a serious threat, we can safely say, for the entire stock market. This fact (breaking down) will pull for a very, very many.
But it's really too early to panic. It should be noted that technically, the area of ​​support where the price is going now is quite strong and here buyers will not leave it unattended.

The range of Wall Street analyst estimates for the S&P500 index at the end of 2022, compiled by Refinitiv, is from 4029$ to 5300$. Some experts believe that the current US stock market estimates are too high and expect the indicator to fall in 2022, however, many Wall Street analysts are set optimistic and predict new records.

In addition, if we refer to the forecasts of other analysts as well, another noise regarding the COVID-19 pandemic in the United States began to subside. This moment can drive prices up, just after approaching the aforementioned support area . Thus, we have a potential good deal for both traders and investors.

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