Update on Sp500 weekly trading system
Our trading system is SHORT on weekly time frame (cf. RED BARS on chart) signal given at 4,380 last week.
Major support is now for our model at 4,250 points. Second one at 4,160.
It seems very likely that in coming weeks the market can reach the second support.
If broken, the market will accelerate towards 4,000 points.
The momentum indicator has given a sell signal as well (please see the same signal in February last year and also in September 2018).
Resistance on the upside is 4,500 points.