still bullish the technical trend. just need a correction. nobody know when the stockmarket will burst
The end of the bull market is just started.... thanks to covid variants worries that afect inflation pressure made the market with high volatility downturn
The next target is triying to break up the 61 fibonacci level after a correction of the price
he price hits records recovering breaking the .61 fibonacci level with hard rejecting making a high risk of the end the bullish trend. Because, bad news surounding about lockdowns summarizing to inflation and economic impact .. so I just highlight the lateral zone movement of the price with the violet square and draw a the yellow channel in case of a down trend
Up trend countinuity for the US500 meanwhile remain in the channel
the price recovered 1.5 fibonacci points. So the 4790 zone is a hard resistance. Checking the MACD indicatoris losing the strenght and if we check the RSI is going to same trend
Checking how finish the trend this week. after the Fed Meeting the expectative was higher.... breaking new records
The channel is the key althought we got to wait for Fed FOMC meet what will happen with the trend for this week.
The bull rally could continue....with 1H timeline making a trend channel could heading to 4616 max.... the projection is till to fed tappering decision
The SP500 price market sentiment still bullish without corrections.... any surprising news could change the trend if dont breakup the price record resistance... the channel indicates support levels for any corrections.
Nasdaq price didnt break up EMAs resistance. meanwhile crossing red angle line became a FOBO breaking down the 38 fibonacci level. The RSI is below of 50 levels getting weaker, so the trend is getting bearish
The FAAng Stocks index price didn't break up the 23 level fibonacci and red angle line yet, but took the EMAs lines as support. The Relative Strenght is getting force to 49.2 points so the confirmation is neede if the uptrend continuity is real.
SP500 price at 4H timeline didn't break up the EMA 60 resistence. indeed 23 fibonacci levels and red angle line. the EMA 20 is acting as resistance but didnt cross EMA 60. The Relative Strenght is taking force at 54.5 point so confirmation is needed for the real trend. Meanwhile a lateral movement is possible.
The Dow Jones price didnt break down the 50 level of fibonacci level and the angle blue line . The Relative Streng is low with 42.5 points the price need for the trend.
The price of NASDAQ is trying to break down 76 fibonacci level with Relative Strenght low. Meanwhile confirmation is needed for reaction of the trend
The price confirmed de down turn crossing EMAs and didn't break up the angle red lineand the 0.38 fibonacci level the RSI is weak with 38.85 points and the pattern is convergent with the trend.
The price in FAANGs stock didn't break up EMA 20 but confirmation is needed for supports breaking down of EMA 60, 23 fibonacci level and blue angle line. RSI is weak at 37.3 points likely a down trend continuity.