SP - Unexpected comeback
The S&P 500 was signaling a potential double top on the weekly timeframe, accompanied by a lower RSI—a highly bearish indicator. From a macroeconomic perspective, recession risks are also mounting.
However, last week saw an unexpected and significant rally, which could potentially negate even the most bearish signals. Overall, I'm still neutral on this one.
However, last week saw an unexpected and significant rally, which could potentially negate even the most bearish signals. Overall, I'm still neutral on this one.
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