In recent weeks we are attending an important correction in the main American indexes, since, from the maximum last Wednesday, February 19 to the minimum of the session last Thursday, March 13, the S&P 500 has suffered a 10.46%correction.
In the daily graph of the main American index, the S&P 500, we can observe that, The index may be establishing a ground in the area of 5,504.65 and 5,528.41 points, since the price has activated a Chartist Figure of accumulation and bullish implications in the form of double soil. In this way, despite the falls produced during today’s session, we can work with a scenario in which we attend a rebound in the S&P 500 during the next sessions, with a pricing that could approximate the American index to the surroundings of 5,782.42 points, having at the moment an important level of resistance along the way to the upward target in the vicinity of 5,705.37 points.
S&P 500 (SP500) on daily scale with volatility (upper central window), MacD (lower central window) and hiring volume (lower window). Source: Prorealtime and own elaboration.
Besides, The MacD oscillator is at extreme levels, registering a widely superior to that registered at the beginning of last August. Thus, the possible activation of ascending cuts during the next sessions You can strengthen the positive evolution in the price of S&P 500, so we can be positive for attending a rebound while We do not attend the drilling of 5,504.65 points.