S&P - closed February's gap and now what?
On 24 Feb 2020, the market gapped down and began a series of heart stopping down days that eventually brought us to the bottom one month later on 23 March. Then began a rather spectacular "V-shaped" recovery that finally closed this gap @ 3339 yesterday.
All appeared well except that the market is now reversing lower today (right after closing gap yesterday). We do not know if this is just a minor correction or something bigger, ie whether economic reality be finally sinking in after the "disconnect" in the past few months?
I'm not bearish yet thou I would be a little cautious for the time being while we get a clearer picture over the next few days.
Disclaimer: This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance. Thank you.
All appeared well except that the market is now reversing lower today (right after closing gap yesterday). We do not know if this is just a minor correction or something bigger, ie whether economic reality be finally sinking in after the "disconnect" in the past few months?
I'm not bearish yet thou I would be a little cautious for the time being while we get a clearer picture over the next few days.
Disclaimer: This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance. Thank you.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.