Episode 5/11: US (SPX) Sectors Technical Analysis Series - 17th of July 2019
Brief Explanation of the chart:
Squares represent past and future structural supports. Since 2009, the bulls have used Monthly MA 50(Weekly 200) support, labelled as the purple line.
The latest bullish channel leading to wave 5 can have 3 potential targets: 85$, 94.5$ and least likely 100$.
This is just a brief "free" and very detailed analysis. Perhaps in the future I might form a premium group, to whose members I will provide all the details of my research.
>>I do not share my ideas for the likes or the views. This channel is only dedicated to well informed research and other noteworthy and interesting market stories.>> However, if you'd like to support me and learn more in the greatest of details, every thumbs up or follow is greatly appreciated!
-Step_Ahead_ofthemarket-
Check my Previous episodes on the US Sectors:
EPISODE 4: Health Care(XLV)
EPISODE 3:TECH(XLK)
Full Disclosure: This is just an opinion, you decide what to do with your own money. For any further references- contact me.
ノート
Monthly RSI. Shows that bulls are weakening. 40-50 RSI support for the long term current bullish channel.
ノート
Quarterly XLI. Blue lines are EMA 14 and EMA 21(greenish/blue). So far they have been the momentum supports. The long term support in case a recession occurs would be the 50 Quarterly MA(Purple line).
ノート
Quarterly MACD. Seems that the bulls are running out of fuel.