S&P’s rally attempt failed near formidable resistance, indicating the path with least resistance remains lower. If the index fails to climb above 2700 this week, then the next stop will be 2600 with the possibility of a brief breakdown below that level.
Good Morning. This is Capital Essence’s U.S. Market ETFs Trading Map – SPDRs Sector Report for December 13, 2018. Below, 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. Major Indices ETFs: SPDR Dow Jones Industrial Average […]
while several indicators remain supportive of further pullback, return of oversold conditions on an intraday basis might help putting put a short-term floor under the market. However, the bulls must hurdle and sustain above S&P’s 2700 or market will work off oversold conditions and fall under its own weight. With that said, the longer the index stays below 2700, the more vulnerable it is to lower prices