STAY POSITIVE ….
S&P 500 is going to retest the previous MidTerm high at 2967 units. In the 4hours time frame occurred a positive signal by Trading Strategy Guides.
Additional, oscillators supporting the current positive short tern reversal and the positive intraday trend. Also, the parabolic signal remains positive with a short-term exponential moving average to cross over the bigger.
The critical point is detected around the 2941 units which are the 61,8% Fibonacci Retracement from the historical high, which has been noted at the beginning of this year.
Ιf the index moves above this level again, then the medium-long-term outlook of the index will change for the better such as the index will enter the long term bull market again with V_shape pattern…. or will occur and second descending round, forming a double bottom W or U bottom?
On the second technical chart, we observe that index mid-term moving into the symmetric triangle and as much as approaching to the end of it, the bands narrowing. We will soon see the index, in which direction of the triangle, will escape.
(This is not a recommendation, it is only my opinion)
INVESTMENT / FINANCE CONSULTANT
Senior Portfolio Strategist,, Economics, Investor Relations
Certified Financial Investor & Certified Technical Quantitative Analyst
Investment Broker | Derivatives Trader | Investment Consultant & Advisor | Asset Management Special
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