The S&P 500 is exultant: not the slightest sign of weakness on the other side of the Atlantic

The S&P 500 is exultant: not the slightest sign of weakness on the other side of the Atlantic

The S&P 500 is up 23% for the year, the Nasdaq 100 up 24% and the Dow Jones up 16%

The falls in the world markets in the last days / weeks have led some stocks to correct strongly, putting fear in the body of many of the small investors. But the truth is that if we look at the ‘boss’, the main index in the world, nothing has happened here.

Whenever things go wrong, Wall Street acts as a safe haven index. Yes of course, it also falls, but much less than the rest. And proof of this is that the S&P 500 has dropped 5% from the recent annual and historical highs in November, while in the same period the Ibex has dropped 12%, the Dax and the Euro Stoxx 50 down 8% and the Nikkei 7%.

Technically, the trend remains bullish in all timeframes. Or in other words, as long as the main index in the world respects the support it has in the last rising low (4,492), absolutely nothing has happened here . But if it is lost, it will confirm a small double top, a prelude to a somewhat deeper correction than usual. Above, on the resistance side, we have the recent all-time highs at 4,743 points.

Samuel Edwards
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