S&P 500 Technical Analysis
Global markets are taking longer to decline than we initially anticipated, the macro-economic indicators have deepened, since our last article, which could potentially show further downside.
When one looks at the 2 parallel orange lines, one can see the continuation of lower lows, showing a continued downside trend, however we are waiting for the macro-economic indicators to move to the downtrend stage, where we expect a sharper downtrend, possibly between the 3 parallel lines.
Disclaimer: Wealthgrowth Investment Management (Pty) Ltd is an authorised services provider, F.S.P. Number, 46007, authorised by the South African Financial Sector Conduct Authority, this article are the views and opinions of the company, and is not an indication to buy or sell.
When one looks at the 2 parallel orange lines, one can see the continuation of lower lows, showing a continued downside trend, however we are waiting for the macro-economic indicators to move to the downtrend stage, where we expect a sharper downtrend, possibly between the 3 parallel lines.
Disclaimer: Wealthgrowth Investment Management (Pty) Ltd is an authorised services provider, F.S.P. Number, 46007, authorised by the South African Financial Sector Conduct Authority, this article are the views and opinions of the company, and is not an indication to buy or sell.
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