S&P’s oversold rally is showing signs of buyer’s fatigue, noting a struggle for the index to get past the trend channel moving average. Nevertheless, support is strong near the 2900 zone. Our near-term view is that there is a higher than average odd that the upper and lower limit of a short-term trading range has been set between the 2950 and 2850 levels on the S&P. So until proven otherwise, the index should bounce back and forth within that 100 points range
Day: October 10, 2019
This is Capital Essence’s U.S. Market ETFs Trading Map – SPDRs Sector Report for October 10, 2019. SPDRs Report is the daily, weekly and monthly technical overviews and analysis for major indices, key sectors, commodities ETFs. This information is a comprehensive summary derived from our proprietary trading system.