Monday, October 2, 2023

Digital Meeting: Joan Cabrero, technical analyst and advisor of Ecotrader

How do you view the S&P 500?

I am copying the latest analysis I published for Ecotrader subscribers. Go ahead and call us at 911 383 387 to take advantage of the latest offer before it runs out:

The extent of the bullish trend that guided the increases from the January low of the Nasdaq 100, which is at 14,550 points (see the chart), caused a rebound that served to recover almost 78.60% at the moment. which took it from 15,932 to 14,557 points. After the recovery of that theoretical resistance, sales once again put pressure on the technology index, which may try to find support again in its strong trend, where I do not rule out that we will see the continuation of that rebound. By this I mean that it is still not ruled out that we will see more increases before witnessing a new swing that brings the S&P 500 to the area of ​​4,300 points, where its strong trend is running, similar in the main. technology index..

In this sense, the last time the Nasdaq 100 touched that strong trend was when I took the opportunity to recommend the technology, but this time I am in favor of waiting for new purchases until the S&P 500 reaches in his similar bullish trend, which passes. the 4,300 points, as I showed you in another chart.

Therefore, you can see how I still do not rule out that there will be a wider consolidation before we witness a new push towards the historical highs marking the main technology index in 2021 around 16,700 points. In this sense, I would like to emphasize that as long as the Wall Street indices do not recover the historical high in 2021, I see that the fall later will be easily weakened. In fact, I doubt that if these heights are not reached, the North American market will have a sustainable ceiling beyond the short term.

Digital Meeting: Joan Cabrero, Technical Analyst And Advisor Of Ecotrader

Digital Meeting: Joan Cabrero, Technical Analyst And Advisor Of Ecotrader

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