S&P500 Getting ready to drop?
Hello fellow traders,
I hope you're all well. Just a quick update from my side as to where I see global stocks, especially the S&P500 go in the next 12 or so months.
Now, if you're unaware of the trade war between China and the US, and the US wanting to impose tariffs on basically the entire world, chances are you might be living under a rock!
Anyway, as the chart indicates, we've been in a bull market for the past 10 years now. Life's been good, people made a lot of money...but, that might come to an end very soon. Now don't get me wrong, a lot of people make money when markets rise, but people can make even more moeny when markets fall!
As you can see, the market rises from 2009 to where we are currently. We recently confirmed a double-top on the S&P500 with a top around 3000 and a neckline around 2400. Now, rule of thumb, we should see prices go down back towards the neckline, and should they break below, we might see 1800 on the cards before long. 1800 is also the 50% fib. line since the start of the uptrend back in 2009.
Again, this is my take on what's happening and is by no means investment or trading advice.
Good luck :)
I hope you're all well. Just a quick update from my side as to where I see global stocks, especially the S&P500 go in the next 12 or so months.
Now, if you're unaware of the trade war between China and the US, and the US wanting to impose tariffs on basically the entire world, chances are you might be living under a rock!
Anyway, as the chart indicates, we've been in a bull market for the past 10 years now. Life's been good, people made a lot of money...but, that might come to an end very soon. Now don't get me wrong, a lot of people make money when markets rise, but people can make even more moeny when markets fall!
As you can see, the market rises from 2009 to where we are currently. We recently confirmed a double-top on the S&P500 with a top around 3000 and a neckline around 2400. Now, rule of thumb, we should see prices go down back towards the neckline, and should they break below, we might see 1800 on the cards before long. 1800 is also the 50% fib. line since the start of the uptrend back in 2009.
Again, this is my take on what's happening and is by no means investment or trading advice.
Good luck :)
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