18.12.2022 SP500 Technical analysis (Daily timeframe)

SP500

In previous technical analysis on SP500 I was expecting big short and it happened. It looks that this rally up was just a correction. This week can price test some of broken levels and then continue to decline. I believe that marked support is a safe price target. However, this week’s news will have bigger impact on markets, so we have to be careful with our decisions. News about GDP will have the biggest impact on SP500, we are looking for better GDP than previous to confirm short positions. MACD will probably go below zero next week. RSI is already under 50, which is plus for short. Bulls also entered negative area. 

Wish you great profits!

written by Filip Lemon