Investors have always regarded the US500 as some sort of safe haven, with a common consensus that the S&P500 never fails to meat their profit expectations by breaking the records each month. However, this index has been suffering now for many weeks making many dips with lower rejections on the non horizontal resistance. For instance, technical analysis now can says a lot:
1- One final rejection: Price has been testing the upper trendline and if the last high is broken, then the US500 will be back to its basics making the buyers winning the bargain.
2- An Inverse Head n Shoulder: Clearly on the chart, the left part is lower than the right shoulder, meaning that price failed to break lower levels.
Will it go as expected ? Or is it willing to go for a soaring session ?
Time will tell...
~ Cyril
1- One final rejection: Price has been testing the upper trendline and if the last high is broken, then the US500 will be back to its basics making the buyers winning the bargain.
2- An Inverse Head n Shoulder: Clearly on the chart, the left part is lower than the right shoulder, meaning that price failed to break lower levels.
Will it go as expected ? Or is it willing to go for a soaring session ?
Time will tell...
~ Cyril