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SP500,Daily Bias Still Bullish
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The SP500 price forecast in our December 4, 2020 technical analysis was bullish.
Market developments after SP500, Daily December 4, 2020 technical analysis indicate bullish momentum still.
- SP500, Daily closed up 0.7% since December 4, 2020.
- However further disappointing labor market data are a downside risk for SP500.
Here is what indicators show as of December 7, 2020:
- The Parabolic Indicator gives a bullish signal.
- The Donchian Channel gives a neutral signal: it is flat.
- The MACD indicator gives a bullish signal.
- The RSI oscillator gives a neutral signal.
- The Fractals give a bullish signal.
- The MA(200) Indicator gives a bullish signal.
So the forecast remains bullish for the SP500, Daily.
| Order | BUY |
| Buy stop | Above 3699.88 |
| Stop loss | Below 3552.13 |
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