Short

S&P500 rise over?

Updated

RSI divergence says that the rise is over unless there is another spill of money and RSI may rise. Otherwise it is set to drop.

Note

4150 target has been hit (as was noted on previous old idea) and it is a question of time to see a good long term buying spot. 2000 seems nearly impossible but everything is possible here

Note

Price is starting to show signs of weakness but it has not finished rising. 4300 is still possible.

Note

If however 4300 is reached and it is not a pin bar on weekly chart - we may be heading to 5450 which changes the picture as 4200 is the resistance line which divides a drop from further rise.

Note

As mentioned earlier - 4300 was hit and went over it thus with some shallow pullbacks we will continue towards 5450 over the next couple years and this invalidates a possibility for a sharp drop. A drop as such will happen but not this year.

Trade closed: target reached

Erland

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