Thursday, 17 November 2016

S&P 500 Cloud chart weekly review.

S&P 500 Market review 14th November 2016.

The market rebounded from a key cloud chart support zone at the bottom end of the cloud! It was a  very volatile session, but the S&P 500 had a strong rebound from cloud support zone at 2093.

A strong rally then resulted in a breakout past cloud chart resistance at the upped end of the cloud. Top end of the cloud is now the new support zone.

The next key resistance levels to watch are 2175/2193, but so far it looks like the market will break past these levels towards the end of the year (year end rally)

No comments:

Post a Comment