S&P500 - short a breakdown of 2020 lows trend line

24 Mar 2021

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:

• 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
  

24 Mar 2021

Not

Comment: Price always returns to 200 day MA (red).



That being said there is of course a chance it continues higher here before a larger pullback.