3 May 2021, 09:34
Looking at the charts, it looks likely there could be a May sell-off. The biggest question is when we could we see this happening? The S&P500 index is dangerously close to the green channel resistance line in the chart. This green line has been holding steadily for the entire year so far. I suspect the index is going to respect this line and keep bouncing within the channel. Not only that, we saw a bearish candlestick pattern in the hanging man on Thursday which was followed through by a bearish day on Friday. Could this mean that we are looking at a correction or a wider crash soon?