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Has S&P 500 Completed Double Top Formation, Ready To Slide?

By Satendra SinghStock MarketsAug 10, 2018 02:46AM ET
www.investing.com/analysis/has-sp500-completed-double-top-formation--before-sliding-starts-200337888
Has S&P 500 Completed Double Top Formation, Ready To Slide?
By Satendra Singh   |  Aug 10, 2018 02:46AM ET
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On analysis of the movement of S&P500 Index futures on August 10 in different time frames in the same chart pattern which I noted in my last analysis, I’ve found that the strength of dollar index is evident enough to reflect the impressions of the tweet from the United States President Donald Trump on August 6 that anyone doing business with Iran will NOT be doing business with the United States. No doubt that since then, indecisiveness on different indices globally has grown manifold. This action looks unlikely to end here and likely to generate some reactionary moves from other parts of the World which will enhance the economic uncertainty globally. I find that the S&P500 Index futures look ready for a sliding voyage amid different noises.

S&P500 Futures Daily Chart
S&P500 Futures Daily Chart

S&P500 Futures 4 Hr. Chart
S&P500 Futures 4 Hr. Chart

S&P500 Futures 1 Hr. Chart
S&P500 Futures 1 Hr. Chart


S&P500 Index futures in the above trading zones click here https://youtu.be/9wLsUMDHhAA

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Has S&P 500 Completed Double Top Formation, Ready To Slide?
 
Has S&P 500 Completed Double Top Formation, Ready To Slide?

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Disclaimer: This analysis is purely based on the technical observations. I do not have any position in Natural Gas. One can create position in Natural Gas at his/her own risk.
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