Please try another search
There have been lots of red investing screens in 2022 as the stock market correction/bear market has only intensified as the days wear on.
Sometimes zooming out to a longer-term picture of the market helps offer perspective. But that doesn’t necessarily mean it makes today’s picture less bearish!
Today’s chart takes a long-term monthly look at the S&P 500. We take the lows from 2009 and 2020 marked by each (1) and use applied Fibonacci for this particular analysis. This produces a 261.8 Fibonacci extension level that just so happens to rest near the 2022 highs.
This is not the best place for selling to start!
And there’s more; this also marks the upper end of a multi-decade rising price channel that marked the 2000 dot com high and the 1987 crash low and financial crisis low. There’s also a lot of room below if the selling continues.
Can bulls recover and push the price upward toward the top side of the channel? Or will bears remain in control and push prices lower? Stay tuned!
This article was written exclusively for Investing.comFor most publicly traded leisure companies, normalcy is returning after the worldwide novel coronavirus pandemic. But that...
Disney is 43.5% below the 12-month high closing price Q2 earnings missed expectations Disney+, Hulu and ESPN+ continue to grow at a healthy rate Wall Street consensus rating is...
The Children's Place (NASDAQ:PLCE) is a specialty apparel retailer, with the stock down 42% YTD, trading near its 52-week low. InvestingPro+ suggests a strong upside for the stock...
Are you sure you want to block %USER_NAME%?
By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.
%USER_NAME% was successfully added to your Block List
Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.
I feel that this comment is:
Thank You!
Your report has been sent to our moderators for review
Add a Comment
We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
Enrich the conversation, don’t trash it.
Stay focused and on track. Only post material that’s relevant to the topic being discussed.
Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.