Get 40% Off
⚠ Earnings Alert! Which stocks are poised to surge?
See the stocks on our ProPicks radar. These strategies gained 19.7% year-to-date.
Unlock full list

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

Published 08/10/2018, 02:46 AM
Updated 07/09/2023, 06:31 AM

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 4 Hr. Chart

S&P500 Futures 1 Hr. Chart


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

Disclosure

1. This content is for information and educational purposes only and should not be considered as an investment advice or an investment recommendation. Past performance is not an indication of future results. All trading carries risk. Only risk capital be involved which you are prepared to lose.

2. Remember, YOU push the buy button and the sell button. Investors are always reminded that before making any investment, you should do your own proper due diligence on any name directly or indirectly mentioned in this article. Investors should also consider seeking advice from an investment and/or tax professional before making any investment decisions. Any material in this article should be considered general information, and not relied on as a formal investment recommendation.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.