S&P 500: Trying to break trend
The last 3 days have saw big up moves in the US market. While most expect the general direction to be down, I am quietly believing that a short term directionless market is the most likely result.
From the chart, S&P 500 will attempt to break out o fits funk next week. Interestingly, RSI and MACD looks good. However both RSI and MACD will need to break through to higher levels for us to believe that a bottom is in place.
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