SimpleFX Blog
    Facebook Twitter Instagram
    Thursday, February 2
    Facebook Twitter LinkedIn Telegram YouTube
    SimpleFX BlogSimpleFX Blog
    Banner
    • Home
    • News
    • Tutorials
    • Updates
    • Opinion
    • Trading Academy
    • Trading Schedule
    SimpleFX Blog
    Home»Analysis»There’s a Small Chance for SPX500 to Soar
    Analysis

    There’s a Small Chance for SPX500 to Soar

    Zach WrightBy Zach WrightSeptember 20, 2022No Comments2 Mins Read
    Facebook Twitter Pinterest LinkedIn Tumblr Email

    We’ll know much more tomorrow after 18:00 UTC when Fed makes the interest decision, but let’s look at what the SPX500 channels say today. Will the stock market crash?

    While New York analysts argue that S&P 500 has declined on average more than 1% in the final ten trading days o the month, the end o September may be doomed. But that’s also why the bullish scenario is not impossible.

    We have prepared three channels for you today. The red dashed lines show the long-term trend. We are definitely in a downtrend since the beginning of the year. Stocks are going down, with rallies being just retracements in the long run. The second red channel shows the short-term trend with a local high at 4325 on August 16. If the market reacts negatively to the Fed conference tomorrow, we may expect support somewhere around 3817. If the fears of high interest rates are already priced in, then the resistance should be somewhere around 4030.

    The 3636 level from June 17 seems to be strong support as it’s the lowest SPX500 has been since 2020.

    The green bullish channel is not out of the question. The equity market has been in decline for months, and many underpriced valuable companies exist. We are going out of a very tense economic and political year, and any positive news from China, Ukraine, Germany, Australia, the UK, or the US can spark a wave of optimism.

    Make sure your SimpleFX account is funded and ready tomorrow. It’s good to start trading before 18:00 UTC.

    featured
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    Previous ArticleAssets to Trade Around Fed’s Interest Decision This Week (September 19-25)
    Next Article Russian Mobilization Shakes the Markets Ahead of Fed Meeting
    Zach Wright

    Related Posts

    Introducing SimpleFX Automatic Affiliate Transfers

    January 31, 2023

    Investors’ Guide to the DAX 40 Index

    January 28, 2023

    Don’t Miss Out On TRON and BNB Staking On SimpleFX

    January 27, 2023

    Leave A Reply Cancel Reply

    Copyright © 2022. SimpleFX
    • SimpleFX WebTrader
    • Unilink Affiliate Tracker

    Type above and press Enter to search. Press Esc to cancel.

    We and our partners use cookies for analytics purposes and to serve personalized ads. You can view our privacy policy here and our cookies policy here
    Accept.
    Privacy & Cookies Policy

    Privacy Overview

    This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
    Necessary
    Always Enabled
    Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
    Non-necessary
    Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.
    SAVE & ACCEPT