ACTV - S&P 500: Where The Trend Ends - Week Starting 18th March (Technical Analysis)
2024-03-17 16:00:00 ET
Summary
- The S&P 500 made a weekly lower high for only the second time since October 2023.
- Indecision and mixed signals are present in the weekly and daily charts.
- The trend channel held during Friday's drop but is at risk of breaking.
The S&P500 ( SPY ) made a lower high this week for only the second time since the rally started back in October 2023 and the first time since the week of 2nd January. This is another shift in behaviour to add to those outlined in last weekend's article and there is growing evidence the bulls are tiring. That said, the trend channel held Friday's drop, and there has not yet been a decisive breakdown to confirm a bearish shift, yet. ...
S&P 500: Where The Trend Ends - Week Starting 18th March (Technical Analysis)