Is this a SELL SIGNAL for S&P 500 this week???Technical speaking, we have predicted that last week, the s&p 500 might started to rebound, since we've seen three to four bearish candles before trend reversal in the past pullbacks, and last week was the forth candle of this pullback. And it just moved as we've predicted.
And for now, the price is still rebounding from overall bearish market. So this week, we might pay close attention to the ending signal of this rebound, for example, the price be rejected by the resistance of previous low.
Key macroeconomic dates include the U.S. releasing the July PPI on August 13, the July CPI on August 14, and the so-called "dreaded" July retail sales data on August 15.
Also, Japan will release its Q2 GDP, likely stirring the pot again with yen carry trades.
In political news, the latest Financial Times poll shows Harris with a 1% lead over Trump in the presidential race.
I think from economic reports to the election, all could drive more volatility in U.S. stocks. Investors should keep a close eye on market movements and manage their risks accordingly.
