SP500 Price Bias Is Still Bearish | IFCM
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SP500 Price Bias Is Still Bearish

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The SP500, Daily price forecast in our September 18, 2020 technical analysis was bearish.

  • Market data after SP500, Daily September 18, 2020 technical analysis still indicate bearish bias.
  1. SP500, Daily has closed 1.1% lower on September 18, 2020.
  2. The US current account deficit jumped to $171 billion in Q2 from $111.5 in Q1.

Here is what indicators show as of September 21, 2020:

  • The Parabolic Indicator gives a bearish signal.
  • The Donchian Channel gives a neutral signal.
  • The MACD indicator gives a bearish signal.
  • The RSI oscillator gives a neutral signal.
  • The Fractals give a bearish signal.
  • The MA(50) Indicator gives a bearish signal.

So the bearish forecast still stands for the SP500, Daily.

OrderSELL
Sell stopBelow 3291.76
Stop lossAbove 3447.19

US Bureau of Economic Analysis September 18, 2020 report

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