S&P500 Corrction Downwards
#trading_idea #US500 💡
#US500 - Bearish Momentum
🕯Market Analysis Overview:
U.S. Stocks: This week, the rally in U.S. stocks faces a critical test as Nvidia is set to release its earnings report. Nvidia's stock has surged 150% year-to-date, significantly boosting the S&P 500.
Nvidia's Importance: Nvidia has played a major role in driving the S&P 500, which is now approaching record highs again. The company's performance has contributed a substantial portion of the index's gains this year.
Market Expectations: Nvidia's future guidance on AI investments could have a significant impact on market sentiment.
Risk and Volatility: September is historically a volatile month for the S&P 500. Nvidia's results could either support the ongoing rally or heighten investor concerns.
On the 4-hour chart, the price is testing the middle Bollinger Band. A potential ABCD pattern could complete to the downside. The RSI has dropped below the 50 line. If the downward movement continues, the next target is the lower Bollinger Band at the support level of 5578.
Possible Scenarios
🔽If the price break down the middle line of the Bollinger the further decline to the support 5600 and lower is possible.
🔼Otherwise, a return to the resistance at 5630 is likely.
😎 Choose "👍" if you expect a price hike and "👎" if you expect a decline.
#US500 - Bearish Momentum
🕯Market Analysis Overview:
U.S. Stocks: This week, the rally in U.S. stocks faces a critical test as Nvidia is set to release its earnings report. Nvidia's stock has surged 150% year-to-date, significantly boosting the S&P 500.
Nvidia's Importance: Nvidia has played a major role in driving the S&P 500, which is now approaching record highs again. The company's performance has contributed a substantial portion of the index's gains this year.
Market Expectations: Nvidia's future guidance on AI investments could have a significant impact on market sentiment.
Risk and Volatility: September is historically a volatile month for the S&P 500. Nvidia's results could either support the ongoing rally or heighten investor concerns.
On the 4-hour chart, the price is testing the middle Bollinger Band. A potential ABCD pattern could complete to the downside. The RSI has dropped below the 50 line. If the downward movement continues, the next target is the lower Bollinger Band at the support level of 5578.
Possible Scenarios
🔽If the price break down the middle line of the Bollinger the further decline to the support 5600 and lower is possible.
🔼Otherwise, a return to the resistance at 5630 is likely.
😎 Choose "👍" if you expect a price hike and "👎" if you expect a decline.
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