Donald Trump has mentioned the US stock market in every meeting he has held in the past few days, which has caused the US stock market indices, including the S&P500 Index(
SPX), to rise:
"Better go out and buy stocks now".
President Donald Trump told a crowd in Saudi Arabia on Tuesday that the markets are just getting started. “It’s going to get a lot higher,” he said, right as the S&P 500 posted its first gain since late February.
But one of the main reasons for the increase in the S&P 500 Index and US stocks is The United States has dropped its tariffs on Chinese goods to 30%, down from a brutal 145%, while China is slashing its own duties on US imports to just 10%, temporarily, for the next 90 days.
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Now let's take a look at the S&P 500 Index chart on the daily time frame.
S&P500 Index managed to break the Resistance zone($5,737_$5,506) and 21_SMA(Weekly) by Breakaway Gap.
In terms of Classic Technical Analysis, the S&P500 Index has managed to form a Bullish Long Island Pattern, and this pattern is one of the continuing patterns and will be a sign of the continuation of the S&P500 Index's upward trend.
In terms of Elliott Wave theory, it seems that the S&P500 index has completed the corrective wave and is innew impulsive waves, which could cause a new All-Time High(ATH) to form.
I expect the S&P500 index to increase by at least +5% as it approaches the Uptrend line, and we will see the possibility of a new ATH.
Please respect each other's ideas and express them politely if you agree or disagree.
S&P 500 Index Analyze (SPX500USD), Daily time frame.
Be sure to follow the updated ideas.
Do not forget to put a Stop loss for your positions (For every position you want to open).
Please follow your strategy and updates; this is just my Idea, and I will gladly see your ideas in this post.
Please do not forget the ✅' like'✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
SPX), to rise:"Better go out and buy stocks now".
President Donald Trump told a crowd in Saudi Arabia on Tuesday that the markets are just getting started. “It’s going to get a lot higher,” he said, right as the S&P 500 posted its first gain since late February.
But one of the main reasons for the increase in the S&P 500 Index and US stocks is The United States has dropped its tariffs on Chinese goods to 30%, down from a brutal 145%, while China is slashing its own duties on US imports to just 10%, temporarily, for the next 90 days.
-------------------------------------------------
Now let's take a look at the S&P 500 Index chart on the daily time frame.
S&P500 Index managed to break the Resistance zone($5,737_$5,506) and 21_SMA(Weekly) by Breakaway Gap.
In terms of Classic Technical Analysis, the S&P500 Index has managed to form a Bullish Long Island Pattern, and this pattern is one of the continuing patterns and will be a sign of the continuation of the S&P500 Index's upward trend.
In terms of Elliott Wave theory, it seems that the S&P500 index has completed the corrective wave and is innew impulsive waves, which could cause a new All-Time High(ATH) to form.
I expect the S&P500 index to increase by at least +5% as it approaches the Uptrend line, and we will see the possibility of a new ATH.
Please respect each other's ideas and express them politely if you agree or disagree.
S&P 500 Index Analyze (SPX500USD), Daily time frame.
Be sure to follow the updated ideas.
Do not forget to put a Stop loss for your positions (For every position you want to open).
Please follow your strategy and updates; this is just my Idea, and I will gladly see your ideas in this post.
Please do not forget the ✅' like'✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
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🎁Welcome than a 50% bonus(Low Spread)👉vtm.pro/Y3AV7r
🎁Get a 20% Discount on your trading FEE on BYBIT:👉partner.bybit.com/b/PEJMANZWIN
🎁Get a 20% Bonus & 30% Discount on LBANK exchange(NO KYC)👉lbank.one/join/uBythQd
🎁Get a 20% Discount on your trading FEE on BYBIT:👉partner.bybit.com/b/PEJMANZWIN
🎁Get a 20% Bonus & 30% Discount on LBANK exchange(NO KYC)👉lbank.one/join/uBythQd
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.