Tag: XLI

S&P Testing Support Turned Resistance

the late October’s recovery rally is testing ‘support turned resistance’ near S&P’s 2765. While the overall technical backdrop remains bullish with the short-term trend pointing upward, momentum has does not appear strong enough to generate widespread breakouts. The longer the index stays below that level, the more vulnerable it is to lower prices

S&P in High Volatility Phase

S&P broke key support Tuesday, signify a bearish trend reversal. Nevertheless, it will be important to monitor the retreat and rebound behaviors over the next few days to determine whether breakouts are decisive. While there is a low probability of a full blow correction we expect increase in near-term volatility as markets establishing a tradable low

S&P’s 2900 Might Not Hold for Long

near-term picture remains the same, S&P consolidates near the important sentiment 2900 mark as we’re heading into the quarter-end. Several short-term indicators are pointing toward further weakness, suggesting that S&P’s 2900 might not hold for long. A failure to hold above key price level indicates a change in sentiment and a much deeper pullback should be expected

Next Page »