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Strategies & Market Trends : News Links and Chart Links
SPXL 222.70+1.6%Nov 28 4:00 PM EST
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From: Les H2/13/2023 2:05:18 PM
1 Recommendation

Recommended By
Sam

   of 29600
 
The 50, 100, 150, and 200-day moving averages remain predominantly within a range between 3900 and 4000, presenting a massive range of support that is able to catch this market should this week’s pullback continue through the end of the month. The zone also aligns with rising trendline support that stems from the October low, presenting a hurdle that is attempting to define the path of the market for the remainder of the year. For now, while we remain around this confluence of support, still battling with the 4100 level of resistance derived by the December highs, a neutral view of the broad market benchmark remains warranted, but this does not prevent us from taking directional bets in various segments that are performing well (eg. energy), while avoiding exposure to those segments that are acting as a drag to broad equity market performance (see our weekly chart books for further insight and ideas).

equityclock.com
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