Key S&P 500 long-term trend decision this week
Updated
Either the market simply cashes out and turns the rally of the last days into a very large dead cat bounce with a devil-may-care attitude. Or the current weakness gets bought back up this week, turning the recent decline into a "buy the dip" opportunity, preventing the end of the overall stock market bubble by leaving the chance of a higher all-time high breakout in the next weeks.
So far the market remains still bullish inside the smaller uptrend channel, above the 200 day SMA with a bearish turning MACD inside the larger downtrend channel. Because of this tough decision I remain neutral until I see a clear trend this week.
So far the market remains still bullish inside the smaller uptrend channel, above the 200 day SMA with a bearish turning MACD inside the larger downtrend channel. Because of this tough decision I remain neutral until I see a clear trend this week.
Note
Obviously the market took the new direction down instead of a continuation of the uptrend.Perma-bulls might still buy next Monday-Tuesday, because the price is still a tiny bit bullish inside this channel, but to me it looks like buying a falling knife.
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