S&P500 - Where will we go next?
Updated
Hello Traders and Investors, today I will take a look at the S&P500.
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Explanation of my video analysis:
Fore more than a decade, the S&P500 has been trading in a pretty clean rising channel formation. We had the last retest of support in 2022, which was followed by bullish confirmation and a rally of +45% in 1.5 years. At the moment the S&P500 is neither retesting support nor resistance and the path of least resistance is simply higher.
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Keep your long term vision,
Philip (BasicTrading)
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Explanation of my video analysis:
Fore more than a decade, the S&P500 has been trading in a pretty clean rising channel formation. We had the last retest of support in 2022, which was followed by bullish confirmation and a rally of +45% in 1.5 years. At the moment the S&P500 is neither retesting support nor resistance and the path of least resistance is simply higher.
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Keep your long term vision,
Philip (BasicTrading)
Note
Seems like the bullish scenario is playing out perfectly...S&P500 targeting the moon, and then back to earth lol
Note
S&P500 is currently holding the all time high quite nicely.Keep in mind that we still have another +10% to go - maybe in 3 months?
Note
Quick update on the S&P500:Higher, higher and much higher. We are currently experiencing another unbelievable bullrun on stocks. All indices are trading close to an all time high, but there is a strong resistance ahead - at least on the S&P500.
Levels to watch: $5.600, $4.700
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💰|Stocks, Cryptos, Indices, Metals
💶|Keep your long term vision
👇🏻|Free "Trading Newsletter"
basictrading.net
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