Technical Analysis and Outlook
The S&P500 finished lower coming from of Mean Resistance 2705 and bouncing off two Mean Supports 2655 and 2630. The next stage for transforming from bearish sentiment to bullish Dead-Cat-Bounce is Mean Resistance 2705. If all else fails, the most significant index will take us to the major Key Support print at 2583 and eventually to the Index Dip 2527. (See 'Market Commentary')
The S&P500 finished lower coming from of Mean Resistance 2705 and bouncing off two Mean Supports 2655 and 2630. The next stage for transforming from bearish sentiment to bullish Dead-Cat-Bounce is Mean Resistance 2705. If all else fails, the most significant index will take us to the major Key Support print at 2583 and eventually to the Index Dip 2527. (See 'Market Commentary')
Note
October 30The Index did peel off the Mean Resistance 2705 as shown on above analysis. We've month end on tomorrow (Oct 31) and non-farm payrolls on Friday, so perhaps yesterday was merely a taster as to what we've got on hand for this week action! (See Market Commentary on Indices Market page)
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.