SI
SI
discoversearch

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 200.43+2.9%Nov 21 4:00 PM EST
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
From: Les H10/3/2023 9:21:16 AM
   of 29599
 
The S&P 500 Index closed essentially unchanged, continuing to hold the short-term low that was charted last week just above significant horizontal support at 4200. Near-term downside momentum continues to wane as the MACD histogram narrows back towards zero. Even with all of the headwinds against it, this market is doing a valiant job of maintaining the limits of what can be considered to be a healthy correction through August and September and rising trendline support stemming from last October’s low has yet to be violated. A head-and-shoulders topping pattern remains a threat overhead with levels of resistance still implied around the declining 20 and 50-day moving averages at 4397 and 4447, respectively. Between here and the level of resistance overhead, the near-term risk-reward appears favourable while monitoring how the market reacts to the significant band of support between 4100 and 4200. Any alleviation of the rate and dollar headwinds in the weeks ahead would be welcomed.

equityclock.com
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News