Daily Data Summary Suggests:
Current Daily Trend (price relationship to the trend MA) is Bearish
The price relationship to the moving averages currently suggest Short positions.
Current chart score suggests that Bearish Sentiment is present.
The anticipated upcoming trade range is between 2882.50 - 2910.60
Price Consolidation has formed between: 2855.9 - 2924.9
If SPX is capable of maintaining the current strength as of today, the projection generated from the daily chart is a target price of 2944 or 2703 depending on economic data
The prices are moving with the Trending Moving Average at a standard pace with a moderate market
The RSI that monitors bullish strength has a current daily reading of: Bearish
The RSI that monitors bearish strength has a current daily reading of: Bearish
The strength demonstrated over the last 5 days is currently: Bearish
Comments:
Friday October 4th economic data is important to the depth of a sell off or the rally of the market.
The indexes have positioned themselves in a rare and uncommon method when it comes to price projection. They are, in this uncommon moment, point both up and down.
The results will be depending on if we receive good news or bad news.
The DJI has taken sights on both 26486 (if good news) and 24217 (if bad news)
The SP500 has taken sights on both 2944.71 (if good news) and 2703.38 (if bad news)
The NASDAQ seems to be the only optimist in the family. And engulfing positive bar taking aim at 7978 (if good news) and 7319.77 (if bad news)
The Russell 2000 has taken sights on both 1505.41 (if good news) and 1361.99 (if bad news)
While the markets themselves have developed very strong bearish sentiment. Seeing optimism inside the price projections demonstrates the desire for a rally.
We will see this afternoon the Non-Farming Payrolls and YoY Average Hourly Earnings are released.
** If data does not significantly change between trade dates, a daily update may be skipped. Monthly and Weekly updates will always be provided. **
Current Daily Trend (price relationship to the trend MA) is Bearish
The price relationship to the moving averages currently suggest Short positions.
Current chart score suggests that Bearish Sentiment is present.
The anticipated upcoming trade range is between 2882.50 - 2910.60
Price Consolidation has formed between: 2855.9 - 2924.9
If SPX is capable of maintaining the current strength as of today, the projection generated from the daily chart is a target price of 2944 or 2703 depending on economic data
The prices are moving with the Trending Moving Average at a standard pace with a moderate market
The RSI that monitors bullish strength has a current daily reading of: Bearish
The RSI that monitors bearish strength has a current daily reading of: Bearish
The strength demonstrated over the last 5 days is currently: Bearish
Comments:
Friday October 4th economic data is important to the depth of a sell off or the rally of the market.
The indexes have positioned themselves in a rare and uncommon method when it comes to price projection. They are, in this uncommon moment, point both up and down.
The results will be depending on if we receive good news or bad news.
The DJI has taken sights on both 26486 (if good news) and 24217 (if bad news)
The SP500 has taken sights on both 2944.71 (if good news) and 2703.38 (if bad news)
The NASDAQ seems to be the only optimist in the family. And engulfing positive bar taking aim at 7978 (if good news) and 7319.77 (if bad news)
The Russell 2000 has taken sights on both 1505.41 (if good news) and 1361.99 (if bad news)
While the markets themselves have developed very strong bearish sentiment. Seeing optimism inside the price projections demonstrates the desire for a rally.
We will see this afternoon the Non-Farming Payrolls and YoY Average Hourly Earnings are released.
** If data does not significantly change between trade dates, a daily update may be skipped. Monthly and Weekly updates will always be provided. **
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.