News Links and Chart Links Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : News Links and Chart Links

SPXL 214.97

+2.8%

Nov 25 4:00 PM EST

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

From: Les H	8/16/2023 3:19:23 PM
	of 29600

The S&P 500 Index ended the day down by over one percent, once again intersecting with intermediate support at its rising 50-day moving average at 4446. A definitive break of this hurdle opens the door to the 100-day moving average, now at 4284, but, as has been noted in previous reports, levels all the way down to 4200 are fair game as part of this period of volatility/weakness for stocks. Resistance remains confirmed at the declining 20-day moving average at 4522. The Relative Strength Index (RSI) has slipped below its middle line, struggling to hold characteristics of a bullish trend that had been rather persistent during the bull market run that stems from the October low. Aside from a near-term bounce to test previous support, now resistance, at the 20-day moving average, there is very little to be enticed by the risk exposure that stocks present within this period of volatility for the market that encompasses the months of August and September. equityclock.com

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next