Monday, February 12, 2018

S&P At Support

The S&P index posted a new loss on Friday marking the worst week since the financial crisis in 2008. The index went from a high of 2870 to a low of 2531 on Friday evening. The price however was stopped in the low of October last year when the index was on a steady rise.

The price formed a double bottom at the lowest point thus stimulating investors to buy at the support level and immediately the index went up to a close of 2650.

With the opening of trading investors are expected to create heavy volatility in both directions. Experts advice that the correction is not over yet as we are still waiting for the big drop to happen.

This correction can take as much as a couple of weeks more or even a year. The truth is no one really knows.

Chart: S&P500, H4


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6 comments:

  1. UnknownFebruary 12, 2018 at 4:50 PM

    Thanks for such an informative analysis.

    ReplyDelete
  2. UnknownFebruary 12, 2018 at 6:27 PM

    The move to the downside sooner or later was inevitable.

    ReplyDelete
  3. UnknownFebruary 12, 2018 at 9:09 PM

    I completely agree with your assessment.

    ReplyDelete
  4. UnknownFebruary 13, 2018 at 10:57 AM

    It could be a good turning point.

    ReplyDelete
  5. UnknownFebruary 14, 2018 at 2:32 AM

    Excellent information to keep in mind.

    ReplyDelete
  6. UnknownFebruary 16, 2018 at 4:52 PM

    Interesting levels to be watchful of, thanks for the info.

    ReplyDelete

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