The daily chart shows divergence and a potential formation of the double top pattern. Currently, the price is at a key level near pre-COVID highs and 50SMA. A break and close lower would open target levels near the neckline of the pattern.
On the fundamental side, continuing worsening conditions and talks of the tough winter ahead as the virus cases spike due to cold weather, we might see another dump in the stock market. Eyes also on the US elections with Biden sofar leading in the polls. Then again, Hillary was winning in the polls as well but lost the election anyway.
Please support the idea and share your thoughts on S&P500!
Good Luck and Stay Heathy!
On the fundamental side, continuing worsening conditions and talks of the tough winter ahead as the virus cases spike due to cold weather, we might see another dump in the stock market. Eyes also on the US elections with Biden sofar leading in the polls. Then again, Hillary was winning in the polls as well but lost the election anyway.
Please support the idea and share your thoughts on S&P500!
Good Luck and Stay Heathy!