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Non-Tech : Trends Worth Watching

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From: Market Chartist	5/11/2020 5:06:46 AM
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Trend in stocks averages stays bullish S&P 500 E-Mini Futures day trade outlook: Upside risks intact A firm probe higher early Friday above 2889.75 and 2909.5 resistances and a late rally through 2931.0, followed by a push higher already this morning to 2947.0, to build on last Wednesday's rebound off of 2823.0 (after a setback just below initial support at 2832.5), to leave risks higher Monday. We see an upside bias through 2947.0; a break above aims for the cycle high at 2565.0 and maybe 2584.25. But below 2895.75 targets 2868/67, maybe even towards 2823.0. Intermediate-term outlookThe mid-April push above 2884.75 signalled an intermediate-term shift from bearish to neutral, with a range seen as 3137.0 to 2424.75. Downside risks: Below 2620.75 sets an intermediate-term bear trend to aim for 2424.75, 2174.0, 2000.0 maybe 1802.5. Upside risks: Above 3137.0 sets an intermediate-term bull trend to aim for 3397.5 maybe 3500.0. You can see more stock index and Forex views fxexplained.co.uk

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