SP 500 – Technical Chart
May 16, 2022
The BOTTOM IS IN for SP500 (ALERT)
PTGai triggered buy signal and anticipating UPSIDE in SPX from here. Intraday HFT bots are to the sell side but dominant cumulative volume is bullish. PTGai has detected LARGE LOT buy volume last week. THE SHORT TERM LOW IS IN for the SP500 last week at 3859. FED language is signaling aggressive policy to address inflation. Macro priced in along with geopolitcal. Watch for a ceasefire to be announced by Russia as the economic toll is not sustainable. Risk on higher time frame bigs and our short term upside target is 4230.50-4244.50. No crash.
SHORT TERM OUTLOOK: Bullish
