S&P 500 moving to Resistance 2950 and Support 2800???
Updated
Took a shot at the longer term trend of the S&P 500 from April through today. Looking to Monday to confirm my analysis.
What do you think?
- If the down trend holds, then I expect the S&P 500 to establish a resistance level at 2950 and test the support of 2800 over the coming weeks.
- If it rebounds, then up to 3140 or maybe even 3200.
What do you think?
Note
Found this Wyckoff chart. It is almost a perfect match.school.stockcharts.com/lib/exe/fetch.php?media=market_analysis:the_wyckoff_method:wyckoffdistribution2.png
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