Since August 2019, the S&P 500 has entered into a "Channel" formation between 2823-2946, with trading being quite choppy ever since.
Despite the market's volatility throughout August, it appears that the S&P 500 is making strides in trying to exit this "Channel" pattern to the upside.
Two indicators to support the S&P500's move higher is:
1) The S&P 500's rising RSI momentum ("Higher Lows and Higher Highs") indicating investors are steadily moving back into the index; and,
2) The S&P 500 is still above its green trend line indicating that the upward momentum is still intact.
If these two trends hold, we could see prices making a move higher to 2980 - a Key Monthly Resistance Level (Blue)
Despite the market's volatility throughout August, it appears that the S&P 500 is making strides in trying to exit this "Channel" pattern to the upside.
Two indicators to support the S&P500's move higher is:
1) The S&P 500's rising RSI momentum ("Higher Lows and Higher Highs") indicating investors are steadily moving back into the index; and,
2) The S&P 500 is still above its green trend line indicating that the upward momentum is still intact.
If these two trends hold, we could see prices making a move higher to 2980 - a Key Monthly Resistance Level (Blue)
Pernyataan Penyangkalan
Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.
Pernyataan Penyangkalan
Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.