Will the S&P500 return to highs by July 4?

2 Tem

Hello Traders,
Will the S&P500 break through the support zone and approach 5,433 points?

The US market seems to be fighting inflation and the market giants seem to be holding their own with results that are accepted as being on target. With the negative exception of a few giants it appears that the Nasdaq giants are not faring well and Wall Street's expectations for earnings growth in the S&P500 appear to be falling in the absence of stimulus.

Corporate earnings have been significantly skewed away from the function of consumer spending, investments and the balance of trade, and despite it having been a lean time so far, how long will it last for the index to average 9.35% growth (including dividend) versus 7.72% on average since 1947.

The current signs of weakness seem to be running out according to the RSI indicator which is currently highly oversold at 31.54%.

And if 5,433 is the case do you think it will continue to correct to the next support zones despite being so highly oversold.

Please write me a post to show me your comments.

Ion Jauregui – ActivTrades Analyst





*******************************************************************************************
The information provided does not constitute investment research. The material has not been prepared in accordance with the legal requirements designed to promote the independence of investment research and such should be considered a marketing communication.

All information has been prepared by ActivTrades ("AT"). The information does not contain a record of AT's prices, or an offer of or solicitation for a transaction in any financial instrument. No representation or warranty is given as to the accuracy or completeness of this information.

Any material provided does not have regard to the specific investment objective and financial situation of any person who may receive it. Past performance is not reliable indicator of future performance. AT provides an execution-only service. Consequently, any person acing on the information provided does so at their own risk.