Looks like the video didn't reveal my drawings as it appeared to during recording, so I've posted the weekly chart here for a zoomed in picture.
An unsustainable trend typically results in consolidation or a reversal in said trend. The Month of September will be critical to the US markets, as can be plainly seen in the S&P 500 Futures chart. Bulls have gone from expecting an all-time high to suddenly hoping for an inside candle. As long as September closes above the weekly 50 sma, (2811) most long-term bulls will hold, and this bull market could continue to go extend higher. A close below 2800 will likely bring on 2730 very quickly. I personally expect we see the S&P 500 test the 2500's within the next 6-12 months (12%-18% drop).
24 ema - blue (thin line)
50 sma green (red) thick line
100 sma yellow (orange) circles
200 sma green (red) circles
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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.