Breakout buildup or exhaustion on S&P500?

Advertisement - External Link

Breakout buildup or exhaustion on S&P500?

The S&P500 is trading at a key resistance level.

The price initially pushed strongly into 3000 but has failed to gain enough momentum to break through the level.

Monday was a small bearish day and Tuesday showed a small rally after rumors for a potential vaccine came up.

A breakout above the 3000 level will make the current pattern look like a buildup. When the price fails to break higher, the price may see another bearish correction into the range lows.

Sentiment feels more bullish and the Put-Call ratio is currently at a very low level which could further indicate bullishness.  Bears certainly have a harder time.

 

It's funny, really, that in a world which is spinning ever faster there is also an ever growing desire to
Channels are popular trading indicators and for a reason. A trader who knows how to utilize channels the right way can
As a technical trader we have all heard about keeping a trading system simple and effective, and it is not
Trendlines are one of my favorite trading tools because they allow us to explore market psychology and trends in many
I have been on this earth for a bit more than 30 years now. I have lived through many ups
Stop hunting exists! Yes, it truly does but it is NOT your broker that is hunting your stop. The brokers

No Comments

Give a comment

Mentoring, webinars
& trade setups
Automated
Forex Trade Ideas
View Forex Info
Your offer is still here!

Cookie Consent

This website uses cookies to give you the best experience. Agree by clicking the 'Accept' button.