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S&P 500 may go sideways but ultimately it will go down

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See the notes on the chart. The S&P had its shot with the vaccine rally, but could not hold. At this point, it looks like there is too much resistance to go any higher. The key to look for is if it breaks above the resistance (red/black) or breaks down below the dark red (brown) support.
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2:40pm
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Dr_Roboto
Chart PatternsDJIIVVNASDAQ 100 CFDSPX (S&P 500 Index)SPDR S&P 500 ETF (SPY) Trend Analysis

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Chart PatternsDJIIVVNASDAQ 100 CFDSPX (S&P 500 Index)SPDR S&P 500 ETF (SPY) Trend Analysis
Dr_Roboto

Related publications

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.