{"id":43079,"date":"2023-03-17T06:26:00","date_gmt":"2023-03-17T06:26:00","guid":{"rendered":"https:\/\/youtrading.com\/en\/?p=43079"},"modified":"2023-03-17T18:11:34","modified_gmt":"2023-03-17T18:11:34","slug":"sp500-technical-analysis-extremely-bullish","status":"publish","type":"post","link":"https:\/\/youtrading.com\/en\/sp500-technical-analysis-extremely-bullish\/","title":{"rendered":"S&#038;P500 Technical Analysis &#8211; Extremely bullish"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"43079\" class=\"elementor elementor-43079\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<div class=\"elementor-inner\">\n\t\t\t\t<div class=\"elementor-section-wrap\">\n\t\t\t\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-af3f02d elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"af3f02d\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-497198a\" data-id=\"497198a\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-94e8c2e elementor-widget elementor-widget-text-editor\" data-id=\"94e8c2e\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p>The S&amp;P500 is rallying after a massive new liquidity injection this week by many US banks, and a deposit backstop from the Fed, a form of QE light. As one would expect this is bullish for stocks.<\/p><p>Treasury Secretary Janet Yellen told the Senate Finance Committee that the US banking system remains sound and Americans can feel confident that their deposits will be there when needed.<\/p><p>Breaking down the data, <a href=\"https:\/\/bit.ly\/2z0xjhz\" target=\"_blank\" rel=\"noopener\">Bank of America<\/a>, <a href=\"http:\/\/bit.ly\/2BhmOV4\" target=\"_blank\" rel=\"noopener\">Wells Fargo<\/a>, <a href=\"http:\/\/bit.ly\/2VMGFEQ\" target=\"_blank\" rel=\"noopener\">Citigroup<\/a>, and <a href=\"http:\/\/bit.ly\/35Gi5Ko\" target=\"_blank\" rel=\"noopener\">JP Morgan<\/a> will deposit approximately $20bn, while <a href=\"http:\/\/bit.ly\/2qiQbnK\" target=\"_blank\" rel=\"noopener\">Goldman Sachs<\/a> and <a href=\"http:\/\/bit.ly\/2Nk0y3l\" target=\"_blank\" rel=\"noopener\">Morgan Stanley<\/a> will deposit another $5bn.<\/p><p>Most of these banks are heavyweights inside the <a href=\"https:\/\/bit.ly\/401rzeB\" target=\"_blank\" rel=\"noopener\">S&amp;P500 index<\/a>, thus with banking stocks rallying the index looks very bullish right now. A $30 billion liquidity injection into the system is no light matter.<\/p><p>With this in mind I think we are now going to see an attack upon the 4,000 resistance level making it extremely likely a breakout is going to take place above this key psychological level.<\/p><p>Something else to consider is market sentiment. The ActivTrader sentiment platform shows that only 38 percent of traders are bullish towards this market. I believe this is a positive sign because positive sentiment is not high as you would expect.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-3a2a190 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"3a2a190\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-0ac0a7e\" data-id=\"0ac0a7e\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-5a8b28d elementor-widget elementor-widget-image\" data-id=\"5a8b28d\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-image\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/bit.ly\/401rzeB\" target=\"_blank\">\n\t\t\t\t\t\t\t<img decoding=\"async\" width=\"439\" height=\"171\" src=\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2023\/03\/usa500-chart.jpg\" class=\"attachment-large size-large wp-image-43088\" alt=\"\" \/>\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-0df5f82 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"0df5f82\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-f2306ba\" data-id=\"f2306ba\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-4eaee16 elementor-widget elementor-widget-text-editor\" data-id=\"4eaee16\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p>Usually, we should look to fade sentiment extremes, although this is not currently not present. We probably need to see bullish sentiment to take hold before looking to sell the S&amp;P500 in order for the next major correction to happen. \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<\/p><p><strong>S&amp;P500 Short-Term Technical Analysis<\/strong><\/p><p>The four-hour time frame shows that the S&amp;P500 has broken higher, although a head and shoulders is present, it is also the case that a major double-bottom price pattern has formed.<\/p><p>upside risks are increased if we see a drop towards the 3,900 level. According to the size of the mentioned double bottom I would then expect a test of the 4,080 level in the short term.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-689c9fb elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"689c9fb\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-ac9fc66\" data-id=\"ac9fc66\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-75f3716 elementor-widget elementor-widget-image\" data-id=\"75f3716\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-image\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/bit.ly\/401rzeB\" target=\"_blank\">\n\t\t\t\t\t\t\t<img decoding=\"async\" width=\"936\" height=\"553\" src=\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2023\/03\/usa500-4h.jpg\" class=\"attachment-large size-large wp-image-43095\" alt=\"\" \/>\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-2a56b767 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"2a56b767\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-3d8adc00\" data-id=\"3d8adc00\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-5b2ecef6 elementor-widget elementor-widget-text-editor\" data-id=\"5b2ecef6\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p><a href=\"https:\/\/bit.ly\/401rzeB\" target=\"_blank\" rel=\"noopener\">See real-time quotes<\/a> provided by our partner.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-1e76b7c elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"1e76b7c\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-3dc92c7\" data-id=\"3dc92c7\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-5b83aef elementor-widget elementor-widget-text-editor\" data-id=\"5b83aef\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p><strong>S&amp;P 500 Medium-Term Technical Analysis<\/strong><\/p><p>Looking at the daily time chart, the central focus remains a massive falling expanding wedge pattern, as the price moves above the wedge, marking a good sign for the index.<\/p><p>The overall trend for the index is now bullish, placing the 4,000 and 4,200 areas as the main bullish targets for the US index.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-479b9f6 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"479b9f6\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-c0de393\" data-id=\"c0de393\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-571907a elementor-widget elementor-widget-image\" data-id=\"571907a\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-image\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/bit.ly\/401rzeB\" target=\"_blank\">\n\t\t\t\t\t\t\t<img decoding=\"async\" width=\"936\" height=\"555\" src=\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2023\/03\/usa500-1d.jpg\" class=\"attachment-large size-large wp-image-43097\" alt=\"\" \/>\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-4d17076d elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"4d17076d\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-364ca5a4\" data-id=\"364ca5a4\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-65e5b1fe elementor-widget elementor-widget-text-editor\" data-id=\"65e5b1fe\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p><a href=\"https:\/\/bit.ly\/401rzeB\" target=\"_blank\" rel=\"noopener\">See real-time quotes<\/a> provided by our partner.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>The S&amp;P500 is rallying after a massive new liquidity injection this week by many US banks, and a deposit backstop from the Fed, a form of QE light. As one would expect this is bullish for stocks. Treasury Secretary Janet Yellen told the Senate Finance Committee that the US banking system remains sound and Americans [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":43083,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[6],"tags":[767,279],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v17.6 (Yoast SEO v20.11) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>S&amp;P500 Technical Analysis - Extremely bullish - Youtrading UK<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/youtrading.com\/en\/sp500-technical-analysis-extremely-bullish\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"S&amp;P500 Technical Analysis - Extremely bullish S&amp;P 500 Technical Analysis - Extremely bullish\" \/>\n<meta property=\"og:description\" content=\"The S&amp;P 500 is rallying after a massive new liquidity injection this week many US banks, and a deposit backstop from the Fed, a form of QE light. 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