The daily bar chart pattern of S&P 500 continued its correction from the Apr 20 top of 2111. The index slipped below 2080 on Mon. Apr 25, but bounced up to the 2100 level on Wed. Apr 27.
Profit booking on the last two days of the week dropped the index to a close below its 20 day EMA for the first time in 2 months. However, the 50 day and 200 day EMAs are rising, and the index is trading above them in bull territory.
Is the dip providing a buying opportunity? Or, will the index repeat the pattern formed during Nov-Dec '15?
-- Profit booking on the last two days of the week dropped the index to a close below its 20 day EMA for the first time in 2 months. However, the 50 day and 200 day EMAs are rising, and the index is trading above them in bull territory.
Is the dip providing a buying opportunity? Or, will the index repeat the pattern formed during Nov-Dec '15?
Read more at:
http://investmentsfordummieslikeme.blogspot.in/2016/05/stock-index-chart-patterns-s-500-and.html
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