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Is it just a seasonal correction in the financial markets or is it the beginning?

 Markets Technical  analysis

SP 500 drop down hard after settled new record last week, are we going to get a false breakout or its only a healthy correction for the last move?

historically it has been a short-term bearish sign for the U.S. stock market in September over the years - S&P 500 tends to make a short-term pullback in September
but this year is a bit unique because this year S&P 500 made a monthly closing all-time high in August and this is not common at all.

Today we have NFP & Unemployment Rate announcement in the US market :

Expectations are for further improvement in the economic environment
Lower unemployment and fewer job seekers Expectations will have to meet the test of expectations and are high in these numbers: If the actual figures are significantly lower, this may create negative pressure on the markets, on the other hand, it is also possible that this will cause a lowering of the interest rate expectations.


On the other hand, expected results will encourage the markets, but may also provide proof that it is necessary to continue in March with the interest rate hikes

last post: The markets set new highs after the big correction at the beginning of the year, where are they headed from here?


Short term forecast suggest for more continue up move with a target on the index from the last top record break  such as the sp500 (2880+-  points last record ) – is supposed to give target’s on the sp500  (3040- 3110 points) ,2968-2978 will be first resistance on the sp 500                                    
Support levels below last record check line as mention above stay in -2874- 2853 - 2820  points for this move.

SP 500  PRICE ANALYSIS
SP 500 ANALYSIS

 

Technical analysis view: 

This time I brought a clean price chart
One can see the clear convergence, which was one of the declines that began in January
An examination of the level of resistance, buyers versus sellers is reflected well on the price graph of the index In my opinion, in May, the beginning of the real recovery can be seen very well. What now?
As I said, and from the technical perspective, the level of support can be clearly seen in the previous peak area at the beginning of the year, when I think that the main level lies in the price level of 2820-2830. The continuation of the move moves towards high price levels and creating new highs



This review does not include any document and/or file attached to it as an advice or recommendation to buy/sell securities and/or other advice