S&P 500, Nasdaq 100 Charts – Shares Up, Now What?
U.S. Indices Highlights:
- S&P 500 sitting close to highs, pattern stays troublesome to combat
- Nasdaq 100 typically in a consolidation sample
The S&P 500 is sitting in document territory after flying increased within the wake of the U.S. election and Pfizer coronavirus vaccine information. That is the third sharp rise to a excessive since early September, will the end result be because it was the previous two instances?
If that’s the case then we should always see the market flip decrease proper about now following the bearish reversal on Monday. How low we go is difficult to say given the broader pattern is increased. There’s a top-side trend-line from 2018 that could be problematic to cross, however nonetheless general the tone of the market seems agency.
A drop again in direction of the March trend-line retains the S&P in range-building mode. This would seem prone to be a consolidation if it does, however a topping sample can’t be dominated out. Too quickly to say for now. Weak spot within the very near-term seems probably, however we’ll see how that unfolds…