"After breaking above the long-term average (white line), the SPX index is in a wait-and-see mode. I observe that there are many rough edges to be smoothed and price spreadsheets to be filled in relation to the economic events so that long-term investors can return to buying.
-The surprise involving the American economy is due to two factors: a) The profit of the banks above the market consensus; b) The credit restriction due to the bankruptcy of two other banks (Silicon Valley and Signature).
-In view of the higher than expected profits of the main banks, I believe that analysts will carefully examine each line presented in their balance sheets in search of “possible cracks” that compromise the resilience of the banking system. We can see a greater provision by these banks to prevent possible defaults.
-In the monthly chart, the upward trend that was being drawn seems to me to want to lose strength according to the SETUP used.
-In the weekly chart we also have an upward trend, we have a pivot of high wanting to form with prices working above the region of 4110 and its destination according to the SETUP used may be the region of 4297, where, not breaking this range will form a double top!
-Now going down to the daily chart, the short-term uptrend is losing strength, opening chances for the index not to reach the region of 4297, reaching only the region of 4188, where, it will also form a double top. In this region we also have the previous uptrend line just above, and it may serve as resistance for prices.
-Make your analyzes and good deals.
-Be Conscious, If You Buy, Use Stop!
-See below other graphical analyzes!
-The surprise involving the American economy is due to two factors: a) The profit of the banks above the market consensus; b) The credit restriction due to the bankruptcy of two other banks (Silicon Valley and Signature).
-In view of the higher than expected profits of the main banks, I believe that analysts will carefully examine each line presented in their balance sheets in search of “possible cracks” that compromise the resilience of the banking system. We can see a greater provision by these banks to prevent possible defaults.
-In the monthly chart, the upward trend that was being drawn seems to me to want to lose strength according to the SETUP used.
-In the weekly chart we also have an upward trend, we have a pivot of high wanting to form with prices working above the region of 4110 and its destination according to the SETUP used may be the region of 4297, where, not breaking this range will form a double top!
-Now going down to the daily chart, the short-term uptrend is losing strength, opening chances for the index not to reach the region of 4297, reaching only the region of 4188, where, it will also form a double top. In this region we also have the previous uptrend line just above, and it may serve as resistance for prices.
-Make your analyzes and good deals.
-Be Conscious, If You Buy, Use Stop!
-See below other graphical analyzes!
