SPX - There will soon be a denouement ❗Let's take a look at the S&P 500 chart. It is an index that accurately shows the financial health of the global economy.
Think back to the autumn of 2020, in just 30 days the market fell 30% and then recovered just as quickly, hitting new highs within a few months, enough time has passed since then. Was it a crisis, as many are calling it, or is it still ahead?
That's a difficult question to answer, but let's try to check the index from the technical analysis side!
The S&P has been trading along its trend line for over a year now, and I would like to clearly show you that the market is running out of strength to continue rising. Each wave is getting smaller and smaller, price has already tested the trend line 5 times. How many more tests can it take?
If the S&P breaks the trend line, it might be a good opportunity for selling, it is safer to wait for another test of the trend line as resistance.
Nearby liquidity zones that are likely to stop the price are marked below!
Write in the comments all your questions and instruments analysis of which you want to see.
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P.S. I personally will open entry if the price will show it according to my strategy.
Always make your analysis before a trade
