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S&P 500 Index
Long

SPX temporary bottom

By BernardPupacic
Updated
This could be a temporary bottom for the Market. First we have a divergence both on the Stochastic and the RSI. The price bounced of the trendline and the Fibonacci(Bottom of the Corona Crash and all time highs).And on the Weekly the price closed outside of Bollinger bands which could mean that the price is oversold in a way. But this is not the market bottom, far from it. The situation in the world is unpredictable and unstable. Another reason are the Elliot waves on the weekly chart that I posted showing where the price could go.
Comment
I posted a new post further explaining the current situation and the elliot waves.
bollinger_bandsbollingerbandstrategyChart PatternsDescending ChannelelliottwaveprojectionelliotwaveanalysisFibonacci RetracementTechnical Indicatorsmacdivergencersi_divergencestochasticdivergenceTrend Analysis

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