Apparently, I am obsessed with S&P 500 tonight. I just drew some trendlines on the weekly chart. I think I found something interesting. Is the trendline really broken this time? It appears to be for now. However, if the S&P can close above 3820 tomorrow, the trendline is not really…
Month: March 2021
S&P 500 Monthly Chart – Does the force of gravity exert a downward force?
This is an interesting observation here on the S&P 500 Monthly Chart and its relationship to the Parabolic SAR indicator. During the past 10 years, in each period of the uptrend identified by the Parabolic SAR indicator, I noticed the price of the index gradually got farther away from the…
SP 500 Weekly – Parabolic SAR Turned Bearish but Is It Correct
SP500 Weekly Parabolic SAR turned bearish. Market reacted negatively because of Powell’s comment. It’s a healthy correction, and does not look like a reversal of the bullish trend at the moment. Overall, the market sentiment is still very bullish. Last week, I was suspecting that the index’s Parabolic SAR indicator…