S&P500 Index is Bullish and the Price Should Make a New Projected High
October 19, 2021
S&P500 Technical Analysis
- S&P500 is very bullish
- The market has ended a retracement
- Daily signal is a strong buy
- The target is pre-calculated
DAILY CHART S&P500
- The start of the move prior to breakout
- Mini swing high
- Bearish retracement
- Projected high
The SNP500 is bullish.US dollar Index looks like its dropping a little, that helps US exports, but it also means their imports get more expensive. For exporting companies it is bullish equities. Generally speaking for exporting companies a weaker currency leads to higher stock prices, but the SP500 are not all exporting companies. Govts loosening up a little bit by bit as we are in the Covid recovery phase. This could still be the main reason along with low interest rates. Targets are 4549 and if the market makes a break above then look for 4829.
