S&P 500 - weakening ahead of year end?
So, a small pull back completed after the 6000 mark, but looking in a wider range, we can see the initial target (5750), after breaking the cup and handle, was passed and stretched for quite some time now.
We are now in the mid of the thanksgiving rally, which will completed probably at the end of the upcoming.
And to be honest, as i read it, and a i already mentions in the nq 100 analysis, the bulls are trying to understand what to do next, and we can see also with the actions on nvda, goog, etc.
my read on this, there is going to be another attempt to push to the top, maybe it will create double top, and then profit taking steps.
I think first target will be around the 5600, to close the gap over there, and depending on the its strength, i think it can go as low as 5200-5400.
Stay safe
We are now in the mid of the thanksgiving rally, which will completed probably at the end of the upcoming.
And to be honest, as i read it, and a i already mentions in the nq 100 analysis, the bulls are trying to understand what to do next, and we can see also with the actions on nvda, goog, etc.
my read on this, there is going to be another attempt to push to the top, maybe it will create double top, and then profit taking steps.
I think first target will be around the 5600, to close the gap over there, and depending on the its strength, i think it can go as low as 5200-5400.
Stay safe
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