Technical Analysis and Outlook
As shown on Dec 20 chart analysis, S&P500 inner Index Dip 2490 was completed as of Dec 19 trading session, while Current Index Dip 2382 is open for business. There is three additional Index Dip outcome for mid-long term perspective.
Currently, we have two strategic resistance levels to be aware of. Mean Res registered at 2547 and Key Res 2651, while there are no significant support levels other than Index Dips outcomes- that however, will change as index price action will develop gradually. See 'Indices Market' tab for full Market Commentary.
As shown on Dec 20 chart analysis, S&P500 inner Index Dip 2490 was completed as of Dec 19 trading session, while Current Index Dip 2382 is open for business. There is three additional Index Dip outcome for mid-long term perspective.
Currently, we have two strategic resistance levels to be aware of. Mean Res registered at 2547 and Key Res 2651, while there are no significant support levels other than Index Dips outcomes- that however, will change as index price action will develop gradually. See 'Indices Market' tab for full Market Commentary.
Note
After completing Current Index Dip 2382 and some more, the S&P500 index entered bear market territory on Monday (Dec 24) with a very worst Christmas Eve trading session of all time.
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.