SP500 Long term

Analysis on monthly chart.
Although on support (4300), we think that the bullish trend started to deteriorate: this is due to a sell signal on momentum indicator placed on bottom of chart (in the previous signals the market retraced down to the support blue line on our model).

More likely level of support on long term is for us 3700 (the low blue line on chart), with intermediate support at 4020.
Market returns bullish with a monthly close above 4,630.

Also on more long term chart we risk the starting of a medium term bear market:
DEMARK has completed a 13 bearish sequence last quarter, and also on this chart we risk a sell signal on momentum indicator.
Support on this chart is 3600 points area.

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Aleph Finance is a trading name of Pairstech Capital Management LLP.
Pairstech Capital Management LLP is authorized and regulated by the FCA – Financial Conduct Authority – with registration number 477155.
Pairstech Capital Management LLP is authorized as third country firm without a branch by CONSOB with registration number 54.
Registered Company number OC333807.

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Pairstech Capital Management LLP is authorized as third country firm without a branch by CONSOB with registration number 54.
Registered Company number OC333807.

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