Market

Possible Scenarios for S&P 500 for TVC:SPX by Moshkelgosha

ABC correction pattern:
In September 2020 we had an ABC correction :

In the last week of September 2020, the S&P 500 bounced back and then experienced another decline:

There is one big difference between Sep 2020 and Sep 2021:
SPY: has the highest volume price in the market and provides exposure to S&P 500 .
In 2020 SPY trading volume was decreasing at lower readings while in 2021 it is exactly the opposite!

Looking at the SPY trading volume clearly shows Sellers have the higher hands:
Lower volumes in green days in comparison to Red days:

Conclusion:

This correction has not finished yet, but it doesn’t mean you can not find opportunities. ( Oil Stocks should be considered)

Waiting for better entries could be the best thing for a while!

DISCLAIMER

I’m not a certified financial planner/advisor nor a certified financial analyst nor an economist nor a CPA nor an accountant nor a lawyer. I’m not a finance professional through formal education. The contents on this site are for informational purposes only and do not constitute financial, accounting, or legal advice. I can’t promise that the information shared on my posts is appropriate for you or anyone else. By using this site, you agree to hold me harmless from any ramifications, financial or otherwise, that occur to you as a result of acting on information found on this site.

Most Related Links :
Business News Governmental News Finance News

Need Your Help Today. Your $1 can change life.

[charitable_donation_form campaign_id=57167]

Source link

Back to top button