SP500 index. Secondary trend. Bowl. Resistance zone. 07 2023
Logarithm. Time interval - 1 week. A driver and indicator of the "health" of the U.S. stock market. The chart shows the secondary trend.
Local trend. The reversal zone.
From the reversal zone from the breakdown of the 4004 level, the price is moving in an ascending channel, has reached almost its historical highs of the previous trend. Now we are in the resistance zone under the level of 4630. The price has formed a large ascending wedge in the channel. A significant pullback is possible (working off the targets of the rising wedge, i.e. falling into the range of the rising channel to begin with), perhaps not immediately, but there is still a small potential.
Also possible is consolidation under the 4630 resistance as its centerpiece for an extended period of time, then depending on the political plans, an upside breakout and excitement or, conversely, a significant pullback. It is likely that some political "bullshit" news will "tweak" the chart.
It is important that a large bowl has formed on the secondary trend. It is clearly visible on the line chart. Therefore, when pulling back from its resistance to continue the trend (so as not to scare investors with overbought), the formation of a bowl with a handle is quite appropriate.
The main trend of this index. Over 100 years.
SP500 index. The entire trend. Anniversary of 100 years
The graph is linear for clarity. Note where the index price is now in the main trend.
The economies, markets and influence of the world's two hegemons, the US and China.
It is important to realize that at the moment, because of the current political and economic situation in the world, the worse it is for China, the better it is for the USA and vice versa. These are the main two world players, the rest are their satellites, both explicit and hidden. It is also necessary to realize that behind these two super states are other supranational structures whose goals coincide, but their methods are not quite the same. It is quite possible that in the fall we will see a lot of problems in China, which may negatively affect its economy, which may affect the world as a whole.
Negative correlation between SP500 and BTC
I would like to emphasize the complete non-correlation of the cryptocurrency market driver BTC with the given stock market driver—the S&P 500 index.
At the moment, the correlation index of these two assets is 3%. It has reached its minimum values for the last 2 years. I would like to remind that at the beginning of the year (before this local growth of the index) this index was about 70%.
What does it mean? There is an overflow of money of big capital. Then it will be the other way around. Use it. Do not “lose” your bitcoins on “snot”.
Local trend. The reversal zone.
From the reversal zone from the breakdown of the 4004 level, the price is moving in an ascending channel, has reached almost its historical highs of the previous trend. Now we are in the resistance zone under the level of 4630. The price has formed a large ascending wedge in the channel. A significant pullback is possible (working off the targets of the rising wedge, i.e. falling into the range of the rising channel to begin with), perhaps not immediately, but there is still a small potential.
Also possible is consolidation under the 4630 resistance as its centerpiece for an extended period of time, then depending on the political plans, an upside breakout and excitement or, conversely, a significant pullback. It is likely that some political "bullshit" news will "tweak" the chart.
It is important that a large bowl has formed on the secondary trend. It is clearly visible on the line chart. Therefore, when pulling back from its resistance to continue the trend (so as not to scare investors with overbought), the formation of a bowl with a handle is quite appropriate.
The main trend of this index. Over 100 years.
SP500 index. The entire trend. Anniversary of 100 years
The graph is linear for clarity. Note where the index price is now in the main trend.
The economies, markets and influence of the world's two hegemons, the US and China.
It is important to realize that at the moment, because of the current political and economic situation in the world, the worse it is for China, the better it is for the USA and vice versa. These are the main two world players, the rest are their satellites, both explicit and hidden. It is also necessary to realize that behind these two super states are other supranational structures whose goals coincide, but their methods are not quite the same. It is quite possible that in the fall we will see a lot of problems in China, which may negatively affect its economy, which may affect the world as a whole.
Negative correlation between SP500 and BTC
I would like to emphasize the complete non-correlation of the cryptocurrency market driver BTC with the given stock market driver—the S&P 500 index.
At the moment, the correlation index of these two assets is 3%. It has reached its minimum values for the last 2 years. I would like to remind that at the beginning of the year (before this local growth of the index) this index was about 70%.
What does it mean? There is an overflow of money of big capital. Then it will be the other way around. Use it. Do not “lose” your bitcoins on “snot”.
Comment:
This is what this bowl looks like on a line chart.
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Comment:
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