S&P 500 Index Can Print One Last Green Before New Drop

11 May 2020

The general picture short-term is bullish but this can easily change.

The volume is low and going lower

Recently we've also been seeing a correlation between Bitcoin and the SPX. Bitcoin started to drop and the SPX is closed on the weekend, it is possible for the SPX also to drop on Monday if the correlation is to continue.

See Bitcoin ( BTCUSD ) here:
Bitcoin Weekly | Analysis of MAs + Bear Target (6k, 3K?)

I also looked at past history and how the SPX behaves in this type of scenario and another drop is common.

So, even if you see it going up, it is very likely to drop strong and suddenly in the near future.

That's just my opinion of course... Do you agree or not?

Share with us in the comments section below.

Namaste.