S&P 500 Index Daily Trend Analysis: Transition to Bearish Zone Signals Caution Ahead.
In the past five days, the S&P 500 index has undergone a correction trend, shifting from the bullish zone to a bearish one as of October 19th. This change signifies a shift from the previous upward trend followed by a correction phase, indicating that the prospect of a further significant rise from the previous high has become challenging. The index is now in a bearish zone, suggesting a continued downward trend for the coming weeks. Given the current scenario, it is crucial to consider strategies to mitigate potential losses in the face of the ongoing decline. In the short term, we anticipate a strong selling pressure leading to a significant downward trend until early next week. However, it is expected that the intensity of selling pressure will gradually diminish, potentially indicating a trend reversal towards a rebound. This reversal pattern is likely to emerge starting from Tuesday to Wednesday next week. Despite the potential for a rebound, it is important to note that any u