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Strategies & Market Trends : News Links and Chart Links
SPXL 219.24+2.0%Nov 26 4:00 PM EST
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From: Les H6/11/2023 9:30:59 PM
   of 29600
 
The benchmark remains firm above previous resistance at the band between 4100 and 4200 that capped upside momentum over the past year and has yet to show any significant threat toward rising support at the congestion of major moving averages between 4000 and 4100. Momentum indicators continue to show characteristics of a bullish trend above their middle lines, but the lack of the aggressive short-term buying pressures that fuels a swift overbought condition just emphasizes the lack of excitement that traders are expressing towards enacting new positions amidst an uncertain economic backdrop. The bears are certainly in hiding following the recent breakout of the benchmark in recent weeks, but the bulls have their work cut out for them to rally the troops to push the benchmark sustainably higher, particularly during this notorious mean reverting month.

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