What makes up the S&P 500
Did you know that the top 5 stocks on the S&P 500 are responsible for the vast majority of it's growth in the stock market risky asset with some percentages close to its precious all time high.
During the week i was looking at spoke the possibility of the S&P 500's ATH, being a potential signal for higher risk assets like crypto to start moving into the next cycle as it did in 2020, as most of the metrics are pointing towards that, especially with the blackrock ETF in the time horizon.
I also saw that there is a potential pullback was in play for the S&P 500 before it moves break its previous highs and set a new one as it has been happening over the years and this wont be any different it will likely happen the only questions is when will that happen.
This week we saw the first break of wedge on Apple which line up perfectly and continued correction down.
Is this an early signal, where high market cap assets begin to flow into the underperforming stocks on the index.
In my opinion, the S&P 500 will continue pulling back to the next support around 4320 where I'll then look for the ultimate buy the dip opportunity on Bitcoin and my favourite alts.
Please bear in mind, this is quite the speculative thesis and is subject to dramatic change. I'm just sharing my thoughts with you guys on the signals I'm looking at, maybe learn with you. Please DO YOUR OWN RESEARCH. This is not my specialty.
For Newbies still finding their ways around HIVE you would suggest you join Airhawk-project community for Upvote support, you will need to learn more about hive-engine and how to use it to maximize your earnings on the hive Blockchain.
What is Hive-Engine?
Hive-Engine is a smart contract platform on top of the Hive blockchain. It allows communities and businesses to build their own tokens, which are then built on top of the technology provided by Hive. This is the ultimate layer 2 solution. The token created on Hive-Engine is then immediately tradable with Hive on hive engine exchange.
What is Hive.vote
Hive.vote comes with the automation world of hive with Bot, HiveVote comes with amazing features which you can use to schedule posts, build a fanbase, follow a curation trail, and even automate claiming your payouts.
NB: Also enable comment upvote .
Click Here to Join this Community curation Trail @Airhawk-project for awesome curation reward
Buy and stake some AIRHAWK on TRIBALDEX hive engine exchange to get upvote from the community curation account.
JOIN AIRHAWK-PROJECT ON WHATSAPP Here
Thanks for stopping by my post, will be sharing another content soon.