S&P500 index is still bearish

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The SP500 price forecast in our technical analysis of February 25, 2020 was bearish.

New data obtained after technical analysis of February 25, 2020. SP500, Daily, still indicates a bearish bias.

  • The number of Americans with coronavirus continues to rise. A patient which hadn’t been to countries affected by the epidemy appeared in California
  • The American corporations like Apple, Nike, United Airlines and Mastercard announced a possible decrease in profits due to the coronavirus epidemic.
  • Here is what the indicators show as of February 27, 2020:

    • The Parabolic indicator gives a bearish signal.
    • The Bollinger Bands give a neutral signal.
    • The MACD indicator gives a bearish signal.
    • The RSI Oscillator has formed a bearish divergence.
    • The Fractals give a bearish signal.
    • The Indicator MA (200) gives a bearish signal.

    Thus, the bearish forecast is still relevant for the SP500, Daily.

    PositionSELL
    Sell stop below 3200
    Stop lossabove 3400

    Report US Centers for Disease Control and Prevention.

    Reuters.

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