SPX500 needs a rest.
Updated
obviously, the overall trend of SPX and all other indexes is bullish.
but, as all of them has stretched from their key moving averages, I expect a correction and I hope it will be in shape of a continuing base instead of a sharp pullback.
it can be a new chance to buy the proven leading stocks.
So, I see the market in neutral or even negative for very short-time and a strong bullish long-term trend.
Friday daily candle and its volume helps this scenario.
but, as all of them has stretched from their key moving averages, I expect a correction and I hope it will be in shape of a continuing base instead of a sharp pullback.
it can be a new chance to buy the proven leading stocks.
So, I see the market in neutral or even negative for very short-time and a strong bullish long-term trend.
Friday daily candle and its volume helps this scenario.
Trade active
Trade active
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.