S&P 500 IndexShort
S&P 500 - Retracement time?
Hi guys!!
The S&P 500 seems to be losing momentum and set for a retracement or at least some lateral movement. It's holding on today with very low volume.
Indicators are corroborating the idea that the upward trend is losing strength and that we are going to have, at least, some sideways action. The 4 hour chart is also aligned with this idea.
The first area of support would be around 4260-4300. Watching some consolidation around that area would be a positive sign for further bullish action.
Losing that region would probably mean a descent around the 4126 price level.
Take care guys and have a good one!!
The S&P 500 seems to be losing momentum and set for a retracement or at least some lateral movement. It's holding on today with very low volume.
Indicators are corroborating the idea that the upward trend is losing strength and that we are going to have, at least, some sideways action. The 4 hour chart is also aligned with this idea.
The first area of support would be around 4260-4300. Watching some consolidation around that area would be a positive sign for further bullish action.
Losing that region would probably mean a descent around the 4126 price level.
Take care guys and have a good 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.