S&P500 - short a breakdown of 2020 lows trend line
Market is overheated - US Dollar Index is reversing and fears of inflation have been weighing on Bond markets in recent weeks.
IF the 2020 lows trend line breaks down we may see a more pronounced pullback - targets below:
IF the 2020 lows trend line breaks down we may see a more pronounced pullback - targets below:
- TP1 - 3830-3815 - bottom of ascending broadening wedge (generally a bearish pattern so if this breaks down further targets are below)
- TP2 - 3765.9 - 100 day MA
- TP3 - 3541.3 - 200 day MA
That being said there is of course a chance it continues higher here before a larger pullback.