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  • Writer's picturePeet Serfontein

Analyst Thoughts: S&P500 Medium-Term

VIEW RETAINED FOR A MATERIALISED BULL TREND WITH A BEARISH BIAS


  • The medium-term view of a bull trend from S2 to the T1 target, has materialised.

  • The technical picture has changed from bullish to bearish it appears.

  • The gapping reversal off the previous T1 highs should result in some form of bearish correction.

  • The illustrated A,B,C correction is retained as the preferred pattern to S1, but it is possible that a flat consolidation phase could bottom out short of S1.

  • A break below the previous top at S0* will further confirm the indicated downside. A break above T1 will negate the downside potential.

  • Trading below P* will negate the long-term bull trend. 



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