Wallstreet
S&P 500 Daily Chart Analysis For Week of August 4, 2023Technical Analysis and Outlook:
The Spooz index experienced a significant drop as a result of the Inner Index Rally 4590 reaching completion last and this week's trading session, respectively. This caused our Mean Sup 4534 and 4507 to be eliminated. It seems likely that the index will continue to decline, potentially reaching our next Mean Sup 4403 and even Mean Sup 4330. However, it's important to note that there could be a Reignited Rally Resumption at the solid and strategic Mean Sup 4403 level, as this week's trading has been heavily oversold.
S&P 500 Daily Chart Analysis For Week of July 28, 2023Technical Analysis and Outlook:
The Spooz performed as predicted by achieving an Outer Index Rally outcome of 4590 and indicating a desire to move higher. However, the Key Resistance at 4630 might hinder its progress, but it is just a temporary pause. The subsequent Inner Index Rally 4708 is expected to yield positive results.
S&P 500 Daily Chart Analysis For Week of July 14, 2023Technical Analysis and Outlook:
This week, the Spooz reignited its rally muscle to complete our Inner Index Rally 4521 and is currently processing retracement to Mean Sup 4403 - Unconfirmed. However, there is a solid expectation to march to the Outer Index Rally 4590.
S&P 500 Daily Chart Analysis For Week of July 7, 2023Technical Analysis and Outlook:
This week, the Spooz failed to meet our Outer Index Rally 4480 goal due to a crime scene performance. However, we expect a strong rebound from the Mean Sup 4330 or higher, which will help us achieve our target with great force.