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SP500,Daily Bias Still Bullish
The SP500 price forecast in our December 4, 2020 technical analysis was bullish.
Market developments after SP500, Daily December 4, 2020 technical analysis indicate bullish momentum still.
- SP500, Daily closed up 0.7% since December 4, 2020.
- However further disappointing labor market data are a downside risk for SP500.
Here is what indicators show as of December 7, 2020:
- The Parabolic Indicator gives a bullish signal.
- The Donchian Channel gives a neutral signal: it is flat.
- The MACD indicator gives a bullish signal.
- The RSI oscillator gives a neutral signal.
- The Fractals give a bullish signal.
- The MA(200) Indicator gives a bullish signal.
So the forecast remains bullish for the SP500, Daily.
Order | BUY |
Buy stop | Above 3699.88 |
Stop loss | Below 3552.13 |
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