Did the S&P 500 break down last week? The S&P 500 moved out from the recent balance area, so where will it end up? We will perform technical analysis on the S&P 500 to determine where it might be headed, and we will review the stock market sentiments and its internals to see what they are telling us about the health of the stock market.
The S&P 500 was getting bullish when the U.S. was reopening its economy. But due to many people ignoring the health official guidance regarding to wearing face covering and continue to practice social distancing, the U.S. is experiencing huge spike in covid-19 cases and increasing hospitalizing rate. Now, some of the states are re-instituting shelter-in-place order, and putting reopening on pause.
Will the surge of the covid-19 cases and the upcoming expiration of the $600 a week extended unemployment benefit will cause the S&P 500 to be in a free fall once again?
