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CFDs and spread bets are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs and spread bets with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Asset Watch
Tuesday, March 7, 2023, 10:30am GMT
Source: TradingView
S&P 500 seasonality turns bullish in mid-March and lasts until the end of April. As a result, the calendar is approaching a period where the bulls have the upper hand. Likewise, the S&P 500 rallied sharply from Mar. 15-29, 2022, and the fundamentals were highly uncertain back then.
More importantly, the index broke out above its declining resistance line in early January. After backtesting the move, the line became support, and the S&P 500 bounced on Mar. 2 and continued the momentum on Mar. 3. Therefore, the technicals remain constructive, and the bulls should be given the benefit of the doubt until this changes.
So, will seasonality rule the March and April months, or is this time different?
Sources:
Bannister quotes:
S&P 500 seasonality:
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CFDs and Spreadbets are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of Retail investor accounts lose money when trading CFDs and Spread Bets with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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