The S&P 500 was signaling a potential double top on the weekly timeframe, accompanied by a lower RSI—a highly bearish indicator. From a macroeconomic perspective, recession risks are also mounting.
However, last week saw an unexpected and significant rally, which could potentially negate even the most bearish signals. Overall, I'm still neutral on this one.
However, last week saw an unexpected and significant rally, which could potentially negate even the most bearish signals. Overall, I'm still neutral on this one.
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.
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.