S&P Technical Analysis

The US Indices of S&P and Dow touched the trendline of the highs forming what looks like a ending diagonal pattern. Prechter says that you should remain open to a top in the US markets even if they can push higher if they do. Steve maintains that this triangle is a wave 4 triangle and one more new high can occur. But in both cases we will start with a dip to the lower trendline to 2366. So given the risk that 2366 may or may not hold you should keep in mind the idea that an ending may already be complete and top in place yesterday night for US markets

 

 

Adam Smith Associates offers trade & commodity finance related services & solutions to its domestic and international clients. Views expressed in this article are purely of the author – Mr Rohit Srivastava – a leading technical analyst. Visit www.adamsmith.tv for services offered by Adam Smith Associates Pvt Ltd

One thought on “S&P Technical Analysis”

  1. Honestly, I have no idea what this S&P analysis does, I just found it interesting that’s why I’m here to learn it. As I understand so far, it has something to do with the stock market? or at least with finance. I would love it if I understood what the graph is saying. Though it is interesting to learn that you should remain open to a top in the US markets even if they can push higher if they do. It’s like being persistent and fighting back as much as you can. I’ll try to learn more about this S&P analysis. Thanks for the informative read!

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