fbS&P500 index is still bearish | IFCM

S&P500 index is still bearish

  • IFC Markets
  • IFC Markets
  • IFC Markets
  • IFC Markets
  • IFC Markets
  • IFC Markets
  • IFC Markets
  • IFC Markets
Subscribe to our official channel to get the latest updates from IFC Markets

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.

Sell stop below 3200
Stop lossabove 3400

Report US Centers for Disease Control and Prevention.


New Exclusive Analytical Tool

Any date range - from 1 day to 1 year

Any Trading Group - Forex, Stocks, Indices, etc.