The market took another hit today. We broke below last week’s lows and plowed through support levels.
The $SPX has support at 3,900, then 3,860. Resistance is at 3,959.
Expert technical analysis of financial markets by JC Parets
by David
From the Desk of Kimmy Sokoloff
The market took another hit today. We broke below last week’s lows and plowed through support levels.
The $SPX has support at 3,900, then 3,860. Resistance is at 3,959.
by David
From the Desk of Kimmy Sokoloff
As of early this morning, futures are flat. The $SPX rejected the 200-day moving average yesterday and dropped right into support.
I’ll be watching to see if SPX 3,962 is held throughout the day. Otherwise, we can see 3,932.
by David
From the Desk of Kimmy Sokoloff
What a wipeout in the indices. We’ve almost retraced all of last week’s move.
The $SPX broke below 4,050, and it was downhill all day.
by David
From the Desk of Kimmy Sokoloff
The indices are pulling in this morning.
We’re still in consolidation mode after last week’s rally.
by David
From the Desk of Kimmy Sokoloff
After this morning’s dip lower, the $SPX mostly based around its 200-day moving average.
Overall, it was a tough week. We traded lower the first part of the week, and then came Powell…
by David
From the Desk of Kimmy Sokoloff
We have jobs data being released at 8:30 .m. ET this morning that could set the stage for the indices today.
The market based nicely yesterday. As long as the 200-day moving average on the $SPX at 4,050 holds, there’s room for higher prices.
by David
From the Desk of Kimmy Sokoloff
A consolidation day it sure was.
As long as the $SPX hangs on to to 4,050, we have potential to trade higher.
If we break below that level, we run the risk down to 4,034, then 4,020.
by David
From the Desk of Kimmy Sokoloff
What a day.
The indices rallied off of Powell’s speech, and the $SPX crossed the 200-day moving average. The SPX almost closed its gap at 4,083 back on Sept. 12.
We can trend higher into the 4,120 mark in time.