The S&P 500 has broken out of the malaise it has held all of last week. China seems to be reopening which has investors breathing a sigh of relief. After the inverse head and shoulders breakdown, we saw tremendous resistance and stocks were in the doldrums, hovering in the 3800-3900 range with 4K a hard upper bound. The neckline of our failed inverse H&S pattern provided strong resistance as we had predicted all of last week. Finally, we were able to break out from this level, smashing through our previous targets at 4122 and 4144, and reaching a new relative high just above 4200. We are starting to face resistance from a congestion zone from the end of April, confirmed by a red triangle on the KRI just below 4214. We are finding support at 4144, and should see continued support from 4122, but if not, we are set to cross the vacuum zone to 4068, the neckline of our failed inverse H&S pattern. The next target is 4306, a relative high from the very beginning of May.
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해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.