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S&P 500 Index
Long

S&P 500 inverse Head and Shoulders Chart Pattern

540
We are on the daily timeframe and we can see that historically buying the S&P index on RSI lower than 30 is an opportunity.

Current S&P 500 PE Ratio is decent: 20.34
Min: 5.31 (Dec 1917)
Max: 123.73 (May 2009)

I have 2 scenarios:

1. Inverse head and shoulders chart pattern with a price target of $4900 by the end of the year.
2. Worst case scenario: bull trap at $4150 an retracement to the pre-pandemic level of $3390. I tend not to believe this scenario because of the too low price per earnings ratio of the S&P.

Looking forward to read your opinion about it.





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Fundamental AnalysisindexTechnical Indicatorssp500indexSPX (S&P 500 Index)S&P 500 (SPX500)spx500forecastUS SPX 500SPDR S&P 500 ETF (SPY) spylongTrend AnalysisVOO

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Fundamental AnalysisindexTechnical Indicatorssp500indexSPX (S&P 500 Index)S&P 500 (SPX500)spx500forecastUS SPX 500SPDR S&P 500 ETF (SPY) spylongTrend AnalysisVOO
TopgOptions
Private SIGNALS patreon.com/PremiumOptionsSignals
Trading COURSE bit.ly/tradex
RESULTS bit.ly/TG10x
TradeNation bit.ly/t10X
CRYPTO partner.bybit.com/b/37880
BUY-SELL INDICATORS tradingindicators.store/
Also on:

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.