A few minor technical divergences show that the index has been weakening these last days. Watch for bearish divergences, selling pressure or an intraday reversal below resistance as early sell clues.
Wednesday, October 21, 2015
Will S&P500 Reverse?
Reject or project? This is the question we ask today. Will S&P be rejected or projected when it reaches the inflection point at 2,050-75? The chart shows that S&P is facing strong resistance at the level around 2,050-75.
A few minor technical divergences show that the index has been weakening these last days. Watch for bearish divergences, selling pressure or an intraday reversal below resistance as early sell clues.
A few minor technical divergences show that the index has been weakening these last days. Watch for bearish divergences, selling pressure or an intraday reversal below resistance as early sell clues.
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It could be at a good turning point.
ReplyDeleteWe will have to see.
ReplyDeleteThanks for such an informative analysis.
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ReplyDeleteThat's good advice, I will keep it in mind.
ReplyDeleteI will keep an eye on it, thanks!
ReplyDeleteGood point, will have it in mind!
ReplyDeleteVery good analysis, thanks for sharing.
ReplyDeleteS&P is recovering from summer's selloffs
ReplyDeleteGood reporting, excellent.
ReplyDelete