As per the long term chart of S&P 500
https://www.tradingview.com/chart/NLWsCvH0/
Below are my review points
1. MACD shows overbought character , which also reflects in price and volume
2. From last two years there was a steady uptrend with few corrections
3. As per my Analysis s&p will hit 3000 mark end of march
4. We can still rely on technical analysis , as there are no fundamental news coming in .
5. In the last few days price dropped more than 100 dollars , which i see a major correction , as price was increasing exponentially in last few weeks and people made shit load of money
6. Those who are still betting on their long positions might do panic sell and bear losses
7. Price might drop further more and can hit support level 2600 in another week's time
8. Good entry would be 2600 or earlier if we see any uptrend move
9. I am relying on MACD to become neutral
Please invest on your own risk
Idea : Sell( short term )
: Buy ( Long term )
https://www.tradingview.com/chart/NLWsCvH0/
Below are my review points
1. MACD shows overbought character , which also reflects in price and volume
2. From last two years there was a steady uptrend with few corrections
3. As per my Analysis s&p will hit 3000 mark end of march
4. We can still rely on technical analysis , as there are no fundamental news coming in .
5. In the last few days price dropped more than 100 dollars , which i see a major correction , as price was increasing exponentially in last few weeks and people made shit load of money
6. Those who are still betting on their long positions might do panic sell and bear losses
7. Price might drop further more and can hit support level 2600 in another week's time
8. Good entry would be 2600 or earlier if we see any uptrend move
9. I am relying on MACD to become neutral
Please invest on your own risk
Idea : Sell( short term )
: Buy ( Long term )