SP500 to collapse to 1500 points
Hi Guys,
Sp500 is working the oblique support. The rebound which has taken place from Mid-March should not be surprising due to the extreme volatility we have experienced from late-Feb.
Sp500 is now trying to stay above the oblique support. However, if the index monthly closure (April) will be nearby the oblique support, we should expect a hard sell-off during late spring-beginning of summer.
To be noted a huge point of control with an incredible spike in volumes.
Also, making an inter-market analysis, we do still see a very strong yen vs aud and cad. That is a warning sign that the actual rebound might not be a beginning of a new trend upwards, but just a rebound.
At the end of April, we should finally know the direction. I still believe we are going down harshly.
Thank you guys,
Simone Siesto
Sp500 is working the oblique support. The rebound which has taken place from Mid-March should not be surprising due to the extreme volatility we have experienced from late-Feb.
Sp500 is now trying to stay above the oblique support. However, if the index monthly closure (April) will be nearby the oblique support, we should expect a hard sell-off during late spring-beginning of summer.
To be noted a huge point of control with an incredible spike in volumes.
Also, making an inter-market analysis, we do still see a very strong yen vs aud and cad. That is a warning sign that the actual rebound might not be a beginning of a new trend upwards, but just a rebound.
At the end of April, we should finally know the direction. I still believe we are going down harshly.
Thank you guys,
Simone Siesto
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