Traders Committed To Take S&P Up To 3100

S&P could continue to drift higher as trading sentiment remains strong. Our near-term work on momentum and price structure suggested that overbought conditions can be sustained for a few days, potentially allowing for a test of 3100 before a significant pullback unfolds

SPDRs Report

This is Capital Essence’s U.S. Market ETFs Trading Map – SPDRs Sector Report for November 11, 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.

S&P Shooting Star Pattern Signals Potential Trend Reversal

Thursday’s bearish shooting star candlestick together with the fact that the S&P is overbought as it tests key overhead resistance suggesting that a short-term pullback consolidation is inevitable. There’s a high probability that the late-day selloff will momentum but an undercut below the 3050 is needed before there is any real prospect of a change in the short-term uptrend pressure

SPDRs Report

This is Capital Essence’s U.S. Market ETFs Trading Map – SPDRs Sector Report for November 8, 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.

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