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Friday, March 29, 2024

S&P 500 Update, July 1st

Here’s Market Club’s updated analysis of the S&P 500. Courtesy of Adam Hewison, MarketClub’s co-creator.

S&P 500 Update, July 1st

Adam writes: 

Today I’m going to take another look at the S&P 500 Index. It appears that some of the rose coloring on traders’ glasses is beginning to wear thin. Many more traders now perceive this as a two way trading market as opposed to a one way street we witnessed in March and April. 

I am going to be analyzing a daily S&P index chart and making some observations that I think potentially could work out if certain elements fall into place.  At the present time our “Trade Triangle” technology is indicating a neutral stance in this market.

The monthly chart is still on a buy signal while the weekly signal is on a sell, leaving Adam fairly neutral.  Click here to watch the video.

 

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