UUS500 analysis

Jan 21, 2023

Based on our analysis of the long-term trend, it appears to still hold validity. However, there is potential for an upward break and subsequent movement towards the 4150 level, or even as high as 4300. It is crucial to wait for a break and retest of these levels before making any trades. On the other hand, if the price does not break through these levels, it may indicate a downward movement towards the 3600 level. This possibility is further reinforced by recent disappointing earnings reports. Nevertheless, it is important to also monitor for any breaks of the support line before making any decisions.