📉📈 S&P500 Lack Of Strength To Continue Uptrend 📉📈

📉📈 S&P500 Lack Of Strength To Continue Uptrend

📉📈 Nearest strong support zone: around the 0.382 level of the upward wave.

📉📈 Nearest strong resistance zone: area of recent peaks.

📉📈 Technical environment:

- Moving averages: Uptrend

- MACD: Uptrend

- RSI: Uptrend

📉📈 Price action: S&P500 in recent days is no longer attacking the uptrends with the same momentum with which it rose after the breakout from the accumulation. This looks like the possibility of a small downward correction to test the support zone in order to gain confidence in the continuation of the increases.

📉📈 The scenario I am playing out is to wait for the upcoming bar correction to end and join the uptrend. I don't exclude the possibility of changing the scenario if the market situation changes abruptly. I'm aware of the possibility of a correction at any time, this should be taken into account, If the outlook changes I will publish a post with an update, so I encourage you to actively follow the profile and read the description carefully.

📉📈 Please do not suggest the path I have outlined with lines it is only a hypothetical scenario.

🚀 If you appreciate my work and effort put into this post then I encourage you to leave a like and give a follow on my profile. 🚀