S&P Could Shift To Consolidation Mode
the fact that the S&P is nearly overbought as it tests key technical resistance does not favor a sustain break to the upside. The near-term technical bias is skewed toward a short-term consolidation.
View ArticleS&P To See Support Near 1650
Thursday decline broke the last 13 trading day’s tight range bounded by 1,709 to 1,682 levels on the S&P, indicating a significant change in trend direction – downward, in this case. Although...
View ArticleS&P Could Consolidate Prior To A New Leg Lower
Monday bearish breakdown below key technical support at the trend channel moving average had ad opened the door for a test of the green band, running from 1620 to 1582 on the S&P 500 index....
View ArticleS&P Established Near-term Support But Upside Could Be Limited
it seems to us that S&P found some solid footing near early July breakout point. However, given the technical damage done over the past few weeks, the market needs time to repair itself so upside...
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