S&P500 Downside Bias is apparent
Many narratives out there these days, from mild retracement, buying opportunities, etc.
Strictly technical, the retracement only just started and may be good for another month. No major crisis upfront yet, but the weekly charts are showing some head winds, possibly until close to the US Presidential elections or just after.
MACD turned down, and crossing over. Candlesticks suggest more downside to follow. Supports at the top end have been broken, twice.
Target about 3000, end October, being a critical support.
At this point, nothing major is happening but developments for an interim crisis can occur... looking more like a black swan(s).
Watch for it, just waiting to...
Strictly technical, the retracement only just started and may be good for another month. No major crisis upfront yet, but the weekly charts are showing some head winds, possibly until close to the US Presidential elections or just after.
MACD turned down, and crossing over. Candlesticks suggest more downside to follow. Supports at the top end have been broken, twice.
Target about 3000, end October, being a critical support.
At this point, nothing major is happening but developments for an interim crisis can occur... looking more like a black swan(s).
Watch for it, just waiting to...
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And here it goes!
