The S&P 500 might be changing direction
In my previous analysis released on August 1st, I was quite efficient in identifying the resistance of the uptrend channel (in red) and calling for an ABC correction in the seasonality for August and September.
After reaching my target, I expect the index to begin a trend reversal soon with the goal of reaching an all-time high by December 2023.
I did not believe that the seasonality would occur differently between August and September.
I continue to gather substantial evidence that October, November, and December tend to be excellent months, and I will not be contrary to this.
After reaching my target, I expect the index to begin a trend reversal soon with the goal of reaching an all-time high by December 2023.
I did not believe that the seasonality would occur differently between August and September.
I continue to gather substantial evidence that October, November, and December tend to be excellent months, and I will not be contrary to this.
הערה
At the moment, I see a display of weakness.
Optimism has returned very quickly; however, some more conservative statistical sets indicate that a pullback to the levels of the yellow box would be fair.
There is a GAP in that region. I believe buyers may be more willing to wait for their coverage and position themselves at the identification of the bullish pivot.
If it unfolds this way, the primary scenario of reaching the ATH by the end of the year would become more unlikely.
Don't be a market cheerleader. Learn to react.
עסקה סגורה: היעד הושג
The main goal has been achieved. I gave up the operation around the 4,560 points mark; the risk was no longer worth it. I'll soon release another analysis, so stay tuned.
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.