SP500 Long - Huge Rising Wedge Reversal Pattern Risk
SUMMARY: Long, The SP500 is completely overextended and looks to have an excessive level of greed in the market, however, LONG because the Fed & Gov is supporting the market
Technical looks bearish but fundamentals are driving prices higher.
-- Technical -- There is a rising wedge - bearish signal
BB are pushing along the top of upper bound for months - bearish signal
The candles are way above the Gaussian Channel, should be mean reverting or retesting the top - bearish signal
RSI is drifting into over bought so the Stoch RSI - bearish signal
Slight hidden bearish divergence on the RSI
-- Fundamentals --
I believe the market will continue to rise as the US Government , through stimulus, and monetary policy via the Fed will continue to inflate financial assets.
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.