SPX500 forming a Double Top pattern, will it keep going up?

2024年11月27日

Technical Analysis:
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SPX500 has formed a noticeable double top technical pattern. If it respects the double top pattern the price should touch around 5700. But if it keeps climbing the 6000 may become another support level.

Fundamental Analysis:
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1) Israel war seems to be calming, which should reduce the uncertainty and boost the stock market

2) Russia Ukraine war is intensifying as a result of latest attacks. This war has potential to undermine all other good news and could go with the double top (technical analysis)

3) Santa Claus Rally can boost the stock market in coming weeks followed by correction in Jan 2025

===== Happy Thanks Giving to all the traders ====

2024年12月16日

取消訂單

The previous resistance around the 6031 level has now turned into new support, a classic indication of an uptrend continuation. Consequently, the double-top pattern is invalidated.